Core viruses slow down the global economy like 2008

New delhi date. March 12, 2020, Thursday

Core viruses are causing a downturn in the overall global economy. If the Corona virus infection is not restrained as early as possible, then there is the possibility of a global economic downturn and this will cause a major setback to the European economy. This warning has been issued by European Central Bank President Christine Lagarde. He also hinted at some steps on Thursday.

The 2008 recession caused by Corona fueled the recession

"If we fail to stop it, we will see a situation that is reminiscent of the global economic recession in 2008," Christina Lagarde warned European Union leaders at the conference. "We will look into all aspects of policy action, especially considering the availability of 'super-cheap' funding and the means of ensuring liquidity and not ceasing lending," said Lagarde.

The government will use its power

However, he asserted that the steps of the central banks will only take effect if the government is using its power behind it, to ensure that the banks are providing credit facilities to the affected areas.

Christine Legard made the statement that the Bank of England had taken emergency action. Notably, the Bank of England today announced a 50 basis point reduction in interest rates, aimed at maintaining financial liquidity. In addition, we will take other steps when needed. Bank of England Governor Mark Carney echoed Legarde's statement, saying the above measures would help prevent a global recession.