France: Europe needs MASSIVE Economic Stimulus Plan
(Mon, 9 Mar 2020). The European Union (EU) needs plan a with a "massive" economic stimulus package to fight with the negative impact of the coronavirus outbreak, French Finance Minister Bruno Le Maire said on Monday. European Finance Ministers need to come up with an economic stimulus plan for coronavirus. Amount needed for stimulus plan will be discussed on March 16 European meeting.
European stimulus plan must have budgetary and fiscal measures. Impact of coronavirus on French economy will be in order of several tens of basis points. French growth could be less than 1% this year due to coronavirus.
Want Saudi Arabia to co-ordinate with other oil producers.
EUR/USD: 1.1500 back in sight
The US dollar has come under renewed selling pressure across the board in tandem with the US Treasury yields, driving EUR/USD back towards the 14-month high of 1.1495 hit in early Asia. A fresh risk-aversion has gripped Europe, bumping up the haven demand for the US bonds and gold.
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