Lagarde: 'The Recovery Fund is decisive, adopt it quickly'

" The proposal of the European Commission for a revision of the multiannual Budget and the Next Generation Eu are decisive, " the president of the ECB Christine Lagarde told the European Parliament , adding that "it will be important to adopt this package quickly" because "any delay is likely to generate negative effects and raising the costs, and therefore the financing needs, of this crisis ". Lagarde explained that it is "the largest supranational euro issue ever made, which associated with this proposal, can also have a positive impact on the international role of the euro".

According to Lagarde, Pepp, the ECB's securities purchase program for the pandemic emergency, is "the most appropriate tool in our arsenal to strengthen the monetary policy impulse". "We remain totally committed to our mandate, this is out of the question" , he added.

Regarding the proposal to reform the European multiannual budget and the Next Generation Eu of the European Commission, the president of the ECB said: "For the single market to function as a driving force for convergence, European companies must compete on similar conditions. For the benefit of all, European spending should aim to restore a level playing field and support those most affected by the crisis ".