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3/27, 3:28 AM (Source: TeleTrader)
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VW-0.43%

115.70
Chart for: VOLKSWAGEN AG ST O.N.

VW urges ECB to hasten emergency lending

German carmaker Volkswagen urged the European Central Bank (ECB) on Friday to speed up with its plans to buy commercial paper directly from the companies affected by the coronavirus pandemic and help them overcome the crisis.

Volkswagen told the Financial Times that the ECB should buy its short-term debt "as soon as possible," sending a "clear signal" the central bank is willing to support businesses during the COVID-19 outbreak.

Last week, the German auto manufacturer temporarily suspended production in Europe as a result of the coronavirus-related uncertainties.

Breaking the News / ND