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The EU's €1 trillion coronavirus question
The EU did not cover itself in glory when the scale of the COVID-19 crisis in Europe became clear by early March. The bloc's problem was exemplified by Christine Lagarde, president of the European Central Bank, when she suggested it was not the bank's job to aid Italy in the bond markets. Her comments sparked the biggest single-day fall in Italian government bonds in a decade. Such early missteps might explain the urgency with which EU leaders such as European Commission President Ursula von der Leyen are now acting. Following heavy criticism of the bloc's failure to coordinate a financial response, von der Leyen ... (full story)