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ECB's Lagarde Defends Bond Buys Against Northern Challenge

Tuesday, 9 June 2020 00:00 WIB ECB Lagarde

European Central Bank President Christine Lagarde on Monday defended the aggressive stimulus measures taken by the ECB in response to the coronavirus pandemic, saying they are proportionate to the risk faced by the euro zone. Lagarde was facing criticism from conservative lawmakers from the Netherlands and Germany at a hearing in the European Parliament, with one comparing her to the ill-fated French queen Marie Antoinette. The ECB's massive purchases of government bonds have already come under fire from Germany's Constitutional Court, which has given it three months to justify them or lose the German Bundesbank as the main buyer in its flagship debt-buying scheme. Lagarde emphasised...

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