AMB: Europe could have a crisis like 2008!

AMB: Europe could have a crisis like 2008!

European Central Bank (AMB) President Christine Lagarde noted that Europe faces a severe crisis, similar to the 2008 financial crisis if leaders don't do anything about coronavirus. If no immediate action is taken, "Europe will face a scenario that will remind many of us of the Great Financial Crisis of 2008," the head of the AMB said in a teleconference with European Union (EU) leaders late Tuesday. Lagarde added that with the right response, the shock would probably be short-lived. According to the source, who did not give his/her name because the meeting was confidential, Lagarde noted that AMB policymakers would look at all the tools at this week's meeting, including specifically providing "super cheap" funding and guaranteeing liquidity and ensuring that loans do not dry up.