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A: The response should be fiscal first and......>

ECB
ECB: A: The response should be fiscal first and foremost. Nobody should expect
any central bank to be the first line of defence. If you look at euro area
fiscal measures announced., you get to EUR27bln (0.25% of GDP). This is why ECB
is calling for an ambitious and coordinated fiscal response. From ECB viewpoint,
expecting that this fiscal response will be given. The ECB is going its part
using the tools that it has to avert liquidity risks and combat excessive
financial sensitivities.

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