BRUSSELS/FRANKFURT: European Central Bank chief Christine Lagarde urged wrangling EU leaders to act more decisively to cushion the economic hit of the coronavirus pandemic, three sources familiar with the matter said on Friday, as the bloc feuds over how far to go.
She warned of forecasts of a deep recession and the cost of complacency, they added. It was the second such call by Lagarde to European policymakers this week, after she made a similar case to the euro zone finance ministers on Monday. "If we don't respect one another and if we don't understand that in the face of a common challenge we must have the capacity to respond to it together, no one has understood anything about what Europe is all about," Portugal Prime Minister Antonio Costa said after the leaders' call ended up late on Thursday night.
The prospect of tying conditions to aid is opposed by Italy, the European country hit the hardest by pandemic. Its death toll of more than 8,000 has surpassed the reported toll in China, where the outbreak began. Spain is suffering another of the world's worst outbreaks, with more than 4,000 deaths.
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