the president christine legarde had to say today. well she explained why the e.c.b. took these measures or respectively did not take any additional measures she sees and her you see the colleagues the european economy picking up there is. it's picking up in the summer she says it will or will be but she's dampening experted expectations that this was it that there might not be another bottoming out and so she says that it's an unsteady recovery this supposed to see even some comments from e.c.b. people that they were seeing quite a healthy recovery so the e.c.b. is ready to do more if needed but at the moment it doesn't see that it has to do more it was only last month that it's that it decided on this huge package of $1.00 trillion. dollars germany's 1st big summit u.s. presidency of the e.u. council is going up tomorrow how does today's e.c.b. decision tie in with this. basically it fits like a glove christine legarde is basically passing the baton off to the european leaders now the e.c.b. has done so much and today already an introductory statement she offered al

now european central bank chief christine legarde is called on your resume leaders to come to an agreement quickly on a coronavirus recovery plan after its latest meeting the e.c.b. held back from topping up its vast pandemic stimulus for the euro zone the guard said that europe's economy was rebounding from the pandemic and probably passed the low point he said they had massively relaxed its monetary policy to respond to the crisis over the past few months but she said e.u. leaders now needed to do their bit and quickly agree on a huge recovery plan. while e.u. leaders will meet later this week to try to reach agreement on that 750000000000 euro coronavirus recovery plan so are the e.c.b. and the e.u. on the right track to get the continent through this tricky period well that's a question that i put to some of the world's leading economists during an online panel discussion hosted by the world economic forum program and we have a commitment to a column fiscal response with the european recovery fund now they're going to walk you about it on friday and saturday no doubt we'll get a decisi

european central bank chief christine legarde has called on eurozone leaders to quickly agree on a coronavirus recovery plan after its latest meeting the e.c.b. held back from topping up its vast pandemic stimulus for the eurozone europe's economy is slowly rebounding from the pandemic. you know from the economy to people many people who've suffered serious cohabit 900 symptoms and survive have rehabilitation challenges apart from the physical or deal these psychological repercussions can also have long lasting effects on patients. met one survivor who's only gradually getting back on the road to recovery there's the faster. i got entry. the lung test at the rehabilitation clinic is still exhausting for the road and. the berliner is a covert 1900. variables a difference out. oh i'm glad you know who. here at the vibe clinic name back to back she's making great progress in late may she was admitted to hospital with bronchitis under severe fever an initial coronavirus test was negative but after another test from a lung she was diagnosed with covert 19 lists of pneumonia and inexperienced doctor

hillary did a great job of explaining all that but i think one other point to this is you have christine legarde who is the president of the e.c.b. the european central bank who is essentially kind of sticking her nose in all this is well saying it needs to be an ambitious plan a big plan and if you come with a kind of a or a small or a careful plan as the frugal 5 would probably call it then that's not going to get it done that's what needs to be extremely ambitious but when you use language like that you're really kind of pushing everyone who are leading them to say there's only one right way to do this and i think that's what you're seeing is a complex here over whether or not there's only one right way there are many ways remember as you said this was supposed to be a 2 day conference that's going on for days now and plus and now it's the longest meeting since 2000 and all of this you know hillary i want to play some sound from the austrian chancellor here. susan says this is a serious issue because i believe we can make lazy compromises here there was a certain degree of flexibility among m

chart the red line has shown that the money velocity is collapse so all those central bankers christine legarde you know jay powell all they can do is give money to the banks right to the member rests they actually vomit money either by vomiting money. well that's what they've been doing but into their friends breakfast bowl you know have if you've ever seen a doll do that that's what they'd like to do is vomit into the breakfast bowl and they give it to their friends and of course they'd have enough houses they have enough islands that they own and yachts and at this point in the game 50 years into this system they just can't buy anything else there's nothing of value anyway being produced anymore there's no good art there's no good anything to buy really except for i guess a spot on the lawn musts. you know spaceship to mars maybe that's worth something. well yeah the money velocity chart shows clearly that all the cash that has been printed has been hoarded by the bankers to keep their balance sheets solvent by filling up the tank even though the tank has a massive leak and that leak goes ma

send a reassuring message to the financial markets we know that that was clearly a concern when christine legarde the president of the european central bank weighed in surprise on sunday telling reuters that in fact leader should be given time to reach a good deal not to pressure them to send that message to the markets that in fact you know if the world wouldn't end if they didn't have an agreement yesterday that seemed to work the markets were calm today they come back with this agreement that will deliver quite a lot of money as countries start to make use of these recovery grants and if they access these loans at preferential terms right quite a lot of money as you say but also quite a complicated compromise countries will raise large sums by selling bonds collectively rather than individually and much of that money will be handed out to the countries that are hardest hit by the pandemic in southern europe this is the biggest joint borrowing ever agreed by the e.u. how do you see it impacting on the bronx overall finances and its regular budget. well the whole reason for structuring it this w