Lagarde told EU chiefs ECB looking at all tools for virus response

European Central Bank (ECB) President Christine Lagarde told European Union (EU) leaders that ECB policy makers would look at all policy tools at their meeting this week, particularly ones to provide “super-cheap” funding, Bloomberg News reported.

In the conference call late on Tuesday, the agency cited a person familiar with her comments as saying, Lagarde warned EU leaders that without coordinated action on the coronavirus outbreak Europe would see a scenario that would remind it of the 2008 financial crisis.

Lagarde also said that monetary policy measures can only work if governments throw their weight behind them too, according to the report. [Reuters]