Economics
Lagarde Faced Reservations About ECB’s Pandemic Purchase Program
- ECB releases accounts of March 12 and March 18 policy meetings
- Officials were unanimous on need to act but split on how
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European Central Bank President Christine Lagarde had to overcome reservations from some of her colleagues three weeks ago to push through her emergency response to the coronavirus pandemic.
The account of the March 18 teleconference published Thursday showed how divided officials were about dealing with “severe strains” in financial markets and the advent of Europe’s biggest recession in decades.