Veterans of 2008 show resolve facing new Covid-19 crisis

Europe began a new campaign to shield economies from the coronavirus as the region’s two main central banks either delivered or signaled action to avoid a 2008-style crisis, and German Chancellor Angela Merkel promised to do “whatever is necessary”.

Bank of England governor Mark Carney announced an emergency interest-rate cut, aid for loans and easier capital rules for banks — to complement a stimulative UK budget unveiled hours later — while ECB President Christine Lagarde told governments that the ECB will deliver “super-cheap” funding later on Thursday.