July 28, 2020 / 2:10 PM / in 13 days

Spain's economy minister agrees 100% with ECB measures to support economy

FILE PHOTO: Spain's Deputy Prime Minister and Economic Affairs Minister Nadia Calvino arrives to attend the first cabinet meeting at the Moncloa Palace in Madrid, Spain, January 14, 2020. REUTERS/Susana Vera/File Photo

MADRID (Reuters) - The Spanish economy Minister Nadia Calvino on Tuesday said she agreed with the measures announced by the European Central Bank aimed at strengthening financial markets and supporting the economy.

“I agree 100% with all the recommendations issued by the ECB or the relevant supervisory authorities aimed at strengthening the capacity of financial markets to operate so that they remain a factor of stability and part of the solution and the way out of this exceptional situation,” Calvino said.

On Tuesday, the ECB extended a recommendation to euro zone banks not to pay dividends until the end of the year and allowed them to eat into their capital and liquidity buffers for even longer, to help them cope with the economic fallout of the coronavirus pandemic.

Reporting by Jesús Aguado; Editing by Nathan Allen

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