To deal with the fall-out of the coronavirus pandemic, it is important that all countries are able to do enough, says Chief Economist Philip R. Lane in an interview with @telegraaf. An insufficient fiscal response by any country would make the shock worse (1/4) 
Lane on the economic impact of the coronavirus: Our scenarios factor in a contraction of between 5% and 12% in 2020. We are now in the trough, but I expect the data to improve over the summer, even though people have now accepted that the virus will continue for some time (2/4)
Lane on coronabonds: They are about the joint issuance of new debt, not about the refinancing of old debts. Evidence indicates there would be strong demand for coronabonds from global investors and it would be a cheaper source of financing for many countries (3/4)
Read the full interview on our website in English ecb.europa.eu/press/inter/da… and in Dutch ecb.europa.eu/press/inter/da… (4/4)
