Breaking: ECB President Christine Lagarde is talking at the press conference – key points
- the Euro are is facing a recession of unprecedented magnitude and speed
- economic activity is largely halted
- sharp contraction in growth expected
- recovery speed is uncertain
- ECB remains determined to support households and firms
- committed to doing everything necessary
- Q2 impact likely more severe than Q1
- inflation likely to drop considerably in coming months
- governing council urges further strong and timely fiscal efforts to prepare and support the recovery