ECB to print 1 trillion euro this year to stem coronavirus rout

FRANKFURT - The European Central Bank launched 750 billion euro emergency bond purchase scheme in a bid to stop a pandemic-induced financial rout from shredding the euro zone’s economy and raising fresh concerns about the currency bloc’s viability.

“Extraordinary times require extraordinary action,” ECB President Christine Lagarde said after an emergency policy meeting late on Wednesday. “There are no limits to our commitment to the euro. We are determined to use the full potential of our tools, within our mandate.” Although it will still buy government bonds according to each country’s shareholding in the bank, the so-called capital key, the ECB said it would be flexible and may deviate from this rule.

Greek finance minister Christos Staikouras said the decision made about 12 billion euros in Greek government debt eligible for purchases, a vital support for a country that relies heavily on tourism income. However, the ECB left its minus 0.5% deposit rate unchanged just as it did last Thursday, another sign that policymakers may now see a further cut doing more harm than good.

FILE PHOTO: European Central Bank President Christine Lagarde gestures as she addresses a news conference on the outcome of the meeting of the Governing Council, in Frankfurt, Germany, March 12, 2020. REUTERS/Kai Pfaffenbach

Ι want to ask if steam-boiler cleaning could help to clean places , houses, airplanes , streets ,etc against COVID2019 coronavirus ? CoronavirusOutbreak CoronaVirusUpdate goodnews4coronavirus μενουμε_σπίτι κορονοιος

After eliminating interest, wouldn't forgiving trillions of debt have a more lasting and positive effect than creating trillions more?

EU is saved

Borrow £££s!

This the news I've longing to see, all currencies should be printed

The Deep State hag still trying to inject her fake currency to keep the CB afloat.

So the EU isn't the cash rich super power it would like us to believe it is!

Printing money is weakening the currency. May cause hyperinflation?

She's a criminal, like the rest. Sadists in charge. As always. Now people who have been comfortable, will not be. And that's on them. If they have a conscience left at this point...

Making money, the simplest thing.

Yes print it to 0 baby! Burn it all down!

It will be very interesting to watch the impact of CoronaVirus🦠 on Economics and Environment. Future scholarly books will be written about this particular period.

More money is not the solution.

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