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7/16, 3:12 PM (Source: TeleTrader)
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Lagarde: ECB assumes EU will adopt €750B relief fund

The European Central Bank (ECB) assumes the European Union will adopt the proposed €750 billion coronavirus economic relief plan, ECB President Christine Lagarde said on Thursday.

Speaking to the press, Lagarde commented that the central bank expects most of the funds to come in the forms of grants, rather than loans. She also noted that expectations are high as the deal needs to help the bloc move towards "greening" and "digitalizing" of the EU's economy.

Lagarde described the relief proposal as a "game-changer."

Breaking the News / VP