The president of the European Central Bank (ECB), Christine Lagarde, has opted to convey peace of mind to the heads of state and government of the European Union, ensuring that the entity is “fully equipped” to provide liquidity to the financial system of the Eurozone in case as necessary, after the recent turmoil around Deutsche Bank and in recent days around the bankruptcy of banks such as the Silicon Valley Bank (SVB) in the United States or the rescue of Credit Suisse. It does not help that the main European indices register sharp falls either.
This has been confirmed by community sources to EP who have corroborated Lagarde’s message to the Twenty-seven during the meeting they are holding in Brussels and which was attended by the president of the Eurogroup, Paschal Donohoe.
The sources consulted have also ensured that Lagarde has insisted that “the eurozone banking sector is strong because we have applied the regulatory reforms agreed internationally after the global financial crisis to all of them. Standards.” Specifically, he has called for moving forward to complete the banking union – where the main missing element is the European Common Deposit Insurance Scheme (EDIS) – as well as working to create a “genuine” European capital markets union.
