Efforts by the European Central Bank to support the region’s economy and banking system through a coronavirus crunch failed to calm slumping stock-markets, with shares crashing by more than 10% across the region.
The ECB, under its president Christine Lagarde, is extending cheap loans for banks and temporarily increasing purchases under its €2.6tn bond-buying programe. But unlike US Federal Reserve and Bank of England, the ECB disappointed investors by failing to cut interest rates.
