Italy’s Gualtieri: Role of ECB in coronavirus crisis is crucial, but Europe also needs a coordinated fiscal policy
|In an interview with an Italian newspaper on Wednesday, the country Economy Minister Roberto Gualtieri said that the role of the European Central Bank (ECB) in coronavirus emergency is crucial, but Europe also needs a coordinated fiscal policy.
Additional quotes
Business lobby's estimate of 6% fall in GDP this year is "realistic”.
Stimulus package to be approved this month will be "significantly larger" than march one, sufficient to offer support to economy and households for entire length of coronavirus emergency.
Use of ESM bailout fund under current mechanisms is not an option.
Italy must protect its companies through the virus emergency, also with "new forms of public intervention.
EUR/USD reaction
EUR/USD bounces-off a dip to 1.1006 and flirts with a daily high of 1.1039, having erased early losses, at the time of writing.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.