Article 50KXE Christine Lagarde under fire for ECB coronavirus response

Christine Lagarde under fire for ECB coronavirus response

by
Phillip Inman
from on (#50KXE)

Comments from central bank's chief labelled a 'catastrophic failure' by eurozone economist

European Central Bank boss, Christine Lagarde, has come under fire after she refused to echo her predecessor and say the bank would do whatever it takes to protect the eurozone from a recession triggered by the coronavirus outbreak.

The normally sure-footed Lagarde, speaking after the ECB put in place measures to support commercial bank lending, suggested it was the responsibility of governments to protect highly indebted eurozone countries rather than the central bank.

Related: ECB's plan to support eurozone banks is underwhelming

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