European Central Bank (ECB) Vice President Luis de Guindos said in a newspaper interview on Wednesday, the central bank is ready to recalibrate unconventional measures and plans against coronavirus pandemic.
“Main antidote to pandemic will not be monetary policy but rather government reforms, fiscal policies.”
“Worried about two-speed recovery in Europe after coronavirus pandemic.”
“ECB acted rapidly and effectively, negative effects of coronavirus on Europe would have been contained if the European Union (EU) more complete on economic and monetary level.”
“Level of uncertainty is still very high, especially over what could happen after summer.”
“Europe has to prepare for the worst, hope for the best, return of virus is a concrete possibility.”
“Spending is only alternative in short-term, but after emergency Italy, like other high-debt countries, must tackle issue of sustainability of public accounts.”
Despite the ECB policymakers noting that the central bank stands ready to do whatever it takes to boost the economy; the shared currency remains unimpressed.
At the press time, EUR/USD drops 0.10% to prints fresh session lows at 1.1216.
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.