ECB head Lagarde calls for Europe to do more to rescue their economies from the Covid-19 storm
The ECB stepped up its response to the coronavirus crisis by cutting funding costs for banks, but refrained from boosting its bond-buying program and renewed its call on politicians to provide more fiscal support.
Hours after data showed the worst three-month contraction in a quarter-century of statistics, President Christine Lagarde warned that the eurozone economy could shrink as much as 15% in the second quarter and 12% over the full year.
