March 20, 2020 / 8:02 AM / 9 days ago

ECB's Villeroy says new package will be effective

FILE PHOTO - Governor of the Bank of France Francois Villeroy de Galhau speaks during a news conference at the G7 finance ministers and central bank governors meeting in Chantilly, near Paris, France, July 18, 2019. REUTERS/Pascal Rossignol

PARIS (Reuters) - The European Central Bank’s new crisis response package to fight the impact of the coronavirus outbreak impact will be effective, ECB governing council member Francois Villeroy de Galhau said on Friday.

Villeroy, who is also governor of the Bank of France, told French BFM Business radio that there would be no liquidity problems.

Villeroy also urged companies drawing on credit lines unnecessarily as a precaution to be reasonable.

Reporting by Leigh Thomas; Writing by Matthieu Protard

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