ECB's Villeroy says that there is progress in EU talks, urges further action
Comments by ECB governing council member, Francois Villeroy de Galhau
- Europe has made significant progress in its response to the virus crisis
- Even talks in Brussels, there was progress
- It seems they did not manage to agree in the final stretch of the text
- And also on one of the mechanisms
- On possibility of further action, "of course we can do more"
- The glass is 3/4 full and there is everything the ECB has already done
The key story to start the European morning was that EU finance ministers had earlier failed to agree on a bailout plan to help hard hit member states affected by the coronavirus outbreak, with the 16-hour discussion bearing no fruit at the end of the day.
The meeting will continue tomorrow in hopes that other members - namely Germany and Netherlands - can come to an agreement on coronabonds, an idea which Italy is not really looking to budge from at the moment.