March 20, 2020 / 9:54 AM / 18 days ago

ECB's de Cos says mitigating measures in EU lead to severe economic disruption

MADRID (Reuters) - European Central Bank’s policymaker Pablo Hernandez de Cos said on Friday all the measures taken by European Union countries to mitigate the effects of the coronavirus epidemic would lead to “very severe” economic disruption.

De Cos added in an emailed statement sent to Reuters that a coordination at the EU level is “not an option” but “a necessity”.

He added the bank’s governing council is determined to do “whatever is needed”.

Reporting By Jesús Aguado; Editing by Inti Landauro

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