"Extraordinary times call for emergency action", European Central Bank launches € 750 billion emergency package

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The European Central Bank (ECB) has activated a € 750 billion aid package to alleviate the impact of the COVID / 19 pandemic on the European economy.

The bank will buy the debt of governments and companies across the Eurozone, to ease the impact of the virus on the economy.

"Extraordinary times require extraordinary action." There are no limits to our commitment to the euro. We are determined to use the full potential of our resources, "said Christine Lagarde, President of the European Central Bank.

According to an estimate by the World Health Organization, Europe is now the epicenter of the coronavirus outbreak, which first appeared in China late last year.

Many countries are isolated, closing schools, businesses and borders.

 

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