Europe must distribute its 750 billion euro recovery fund for the pandemic-hit economy promptly and should debate creating a permanent fiscal tool for the bloc, European Central Bank President Christine Lagarde told a French newspaper.
Lagarde added that funds must be targeted, otherwise they get lost in the "administrative labyrinth," failing to support the real economy's transformation in the post-pandemic world.
According to Reuters, "We think it's essential that the fiscal safety nets that governments put in place during this crisis are not withdrawn too soon," Lagarde said.
