Lagarde welcomes Franco-German fund plan

Christine Lagarde unveils new lending facility
Christine Lagarde

ECB president Christine Lagarde has welcomed a plan by France and Germany to create a €500 billion ($550 billion) centralised fund to tackle Covid-19.

The package, agreed by French president Emmanuel Macron and German chancellor Angela Merkel on May 18, would help European Union member states ramp up spending in response to the crisis, even where national budgets are very stretched.

“The Franco-German proposals are ambitious, targeted and, of course, welcome,” said Lagarde in a joint interview

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