The European Central Bank (ECB) will make every effort to preserve employment and productivity in Europe. Central bank president Christine Lagarde said this in an opinion piece published on Thursday de Volkskrant.
“COVID-19 has caused an economic shock that cannot be controlled with existing recipes,” Lagarde said in the play.
“Now it is crucial to ensure that viable companies survive and prevent employees from losing their jobs.”
Since the deep economic crisis of the 1930s, there have been no greater risks for workers to lose their jobs, the ECB President writes.
The European Central Bank recently announced it would buy additional government bonds for an additional EUR 750 billion. This is intended to stimulate the European economy and it also gives governments the space to spend more.
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