ECB's plan to support eurozone banks is underwhelming

Christine Lagarde delivered a disappointing set of measures to mitigate the impact of coronavirus

For Christine Lagarde, it was the moment to stamp her authority on the European Central Bank - and she blew it.

Back in 2012, Mario Draghi announced his arrival at the ECB with his now famous "whatever it takes speech": a commitment to use all the weapons at the bank's disposal to halt a run on Italian and Spanish bonds that was threatening the existence of the eurozone.

Related: ECB announces plan to help eurozone banks withstand coronavirus