21.Oct .2020 14:15

Lagarde: Europe must not delay cash to crisis-hit economies - Reuters

Lagarde: Europe must not delay cash to crisis-hit economies - Reuters
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Europe must distribute its 750 billion euro recovery fund for the pandemic-hit economy promptly and should debate creating a permanent fiscal tool for the bloc, European Central Bank President Christine Lagarde told a French newspaper.

Lagarde added that funds must be targeted, otherwise they get lost in the "administrative labyrinth," failing to support the real economy's transformation in the post-pandemic world.

According to Reuters, "We think it's essential that the fiscal safety nets that governments put in place during this crisis are not withdrawn too soon," Lagarde said.