Lagarde warns the coronavirus can cause 2008-like crisis

Christine Lagarde, president of the European Central Bank (ECB), explained that the organization is examining all of its means to combat the crisis.  

  
The coronavirus puts the world economy in jeopardy. Christine Lagarde, president of the European Central Bank (ECB) has warned that the coronavirus epidemic threatens to provoke a crisis similar to the financial crisis of 2008 “unless leaders act urgently,” according to Bloomberg.  

The economist has pointed out, however, that the impact will probably be temporary. In addition, Lagarde has added that the organization is examining all its tools to combat the crisis, particularly those that would facilitate cheap financing and liquidity.  

However, Lagarde has also warned that ECB measures can only work if governments support them with measures to ensure that banks lend to businesses in the afflicted regions.