European
stock markets are plunging deeper into the red following the ECB’s
announcement.
The FTSE
100 is now down 420 points, or 7.1%, at 5456 -- which would be its lowest close
since 2012.
The German
DAX is also sliding:
The
European Central Bank (ECB) today announced a number of measures to ensure that
its directly supervised banks can continue to fulfil their role in funding the
real economy as the economic effects of the coronavirus (COVID-19) become
apparent.
“The
coronavirus is proving to be a significant shock to our economies. Banks need
to be in a position to continue financing households and corporates
experiencing temporary difficulties. The supervisory measures agreed today aim
to support banks in serving the economy and addressing operational challenges,
including the pressure on their staff,” said Andrea Enria, Chair of the ECB
Supervisory Board.
European
stock markets are plunging deeper into the red following the ECB’s
announcement.
The FTSE
100 is now down 420 points, or 7.1%, at 5456 -- which would be its lowest close
since 2012.
The German
DAX is also sliding:
The
European Central Bank (ECB) today announced a number of measures to ensure that
its directly supervised banks can continue to fulfil their role in funding the
real economy as the economic effects of the coronavirus (COVID-19) become
apparent.
“The coronavirus
is proving to be a significant shock to our economies. Banks need to be in a
position to continue financing households and corporates experiencing temporary
difficulties. The supervisory measures agreed today aim to support banks in
serving the economy and addressing operational challenges, including the
pressure on their staff,” said Andrea Enria, Chair of the ECB Supervisory
Board.
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