The European Central Bank (ECB) on Thursday called on European leaders to adopt “quickly” an “ambitious” economic recovery plan in the face of the coronavirus pandemic, on the eve of a summit with an uncertain outcome on the subject in Brussels . The monetary institute “supports” the 750 billion euro project put on the table by the European Commission and requests a “strong” budgetary response from European governments in the face of the impact of the epidemic, said its president Christine Lagarde at a press conference.
The ECB kept unchanged its monetary policy to support the economy against the coronavirus on Thursday, on the eve of an EU summit dedicated to economic recovery. Its support program for the economy concerns in particular its debt buybacks on the markets, aimed at limiting the effects of the health crisis and brought in June to 1.350 billion euros. It is to run until June 2021. This measure aims to relieve banks, but also businesses and states facing the impact of the pandemic. The ECB also confirmed that it would reinvest the securities participating in the PEPP when they mature, until 2022, a measure to better manage this stock of assets over the long term, as it is already doing for its program ” QE ”of asset purchases implemented in 2015.
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