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Panetta key comments continued: "Our reaction...>

ECB
ECB: Panetta key comments continued:
"Our reaction function should nonetheless be clear: the ECB will respond to any
significant tightening in financing conditions for as long as the negative
effects of the COVID-shock persist. We remain ready to adjust all our policies
depending on how incoming data affect our assessment of the medium-term
inflation outlook."
- "We may be now moving from the first phase of the crisis - which was about
protecting our productive capacity - to the second phase, which is about
rebuilding and modernising the European economy in response to the shock.
COVID-19 will inevitably lead to structural changes. It is the responsibility of
governments to master and accompany them with the necessary reforms."

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