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6/30, 5:28 PM (Source: TeleTrader)
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ECB's De Guindos: Split Europe main concern

One of the biggest problems the European Union will encounter is that some European countries will do better than others in the face of the coronavirus crisis, which can lead to greater inequality and something that can be called "split Europe," European Central Bank Vice President Luis De Guindos said on Tuesday.

"My main concern now is that perhaps we have started to see a split Europe. Some countries will outperform others," De Guindos stated while reiterating that price stability and loosening the "tightened economic conditions" will remain in the ECB's focus.

Similar to the other members of ECB's Executive Board, De Guindos stressed that the measures the ECB took to tackle the crisis are flexible and subject to change if the need arises.

Breaking the News / BU