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The European Central Bank (ECB) Executive Board Member Fabio Panetta said in a scheduled speech on Wednesday, the Euro area has so far weathered the virus shock as well as could be expected.

Key quotes

“European response to the coronavirus has been remarkable.”

“We are now in a better position to watch how key developments play out.”

“ECB will respond to any significant tightening in financial conditions.”

“But any positive indications for now need to be taken with a pinch of salt.”