(Refiles to remove erroneous word in headline)
FRANKFURT, March 18 (Reuters) - The European Central Bank’s rate setting Governing Council is holding an unscheduled telephone conference meeting on Wednesday to discuss possible further steps to arrest the bloc’s sprawling economic crisis, two sources familiar with the discussion said.
Europe’s markets have been in meltdown in recent weeks as the coronavirus epidemic is taking an increasing toll on the bloc and government borrowing costs for the weakest euro zone members have been soaring.
An ECB spokesman declined to comment. (Reporting by Balazs Koranyi and Francesco Canepa, Editing by Franklin Paul)