VW is burning through $2.2B a week as virus halts output

VW’s Main Economical Officer, Frank Witter, known as on the European Central Bank (ECB) to speed up buys of brief-phrase debt, the Economical Situations described on Friday.

He mentioned the ECB ought to send “very clear indicators” and acquire the brief-phrase debt, which typically matures in as tiny as six or nine months, “as shortly as achievable.”

The ECB mentioned last week it would prop up markets, such as by way of the acquire of industrial paper, as component of a 750 billion euro prepare to strengthen asset buys to consist of the fiscal fallout from coronavirus.


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