3/31, 4:12 PM (Source: TeleTrader)
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EU recovery fund rollout too slow - ECB's Villeroy

Governments of the European Union member states' need to up the pace of the agreed-upon recovery plan implementation, European Central Bank (ECB) Governing Council Member Francois Villeroy de Galhau stressed on Wednesday.

He went on to underline that the scale of the fiscal response to the crisis caused by the coronavirus pandemic doesn't, at the moment, play as big of a role as the urgency with which the governments need to implement it.

The ECB warned, in its latest Economic Bulletin, that the economic activity across the continent has been disrupted by the extension of COVID containment measures, restating that the monetary stimulus will "play a vital role" on the road to recovery.

Breaking the News / BU