French President Emmanuel Macron fully supports the new measures taken by the European Central Bank (ECB) to mitigate the economic damage caused by the corona crisis. Late after an emergency meeting, the ECB launched a new bond buying program worth € 750 billion late Wednesday evening.
“Full support for the exceptional measures taken by the ECB,” Macron wrote on Twitter.
“It is now up to us, the European states, to take a step forward through fiscal interventions and demonstrate greater financial solidarity in the heart of the Eurozone.”
The ECB’s intervention injects even more money into the financial system to stimulate the economy. The central bank also released a package of support measures against the corona crisis last week. The interest remained then and is left untouched again. ECB President Christine Lagarde stated that the ECB has “no limit” when it comes to its commitment to the euro.
German Economy Minister Peter Altmaier said that the ECB’s new steps should show that Europe is doing everything it can to fight the corona crisis. “I hope these measures make clear to the financial markets that Europe will protect its interests and is determined to overcome the crisis,” said Altmaier on German radio.
French Finance Minister Bruno Le Maire and Italian Prime Minister Guiseppe Conte also responded positively to the additional measures taken by the ECB. Le Maire said that all European member states were waiting for the new support measures from the central bank.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.
