by Reuters Staff
FRANKFURT (Reuters) – Euro zone firms are increasingly vulnerable amid a pandemic-induced recession but public support, including cheap cash from the European Central Bank, have limited the damage so far, a new ECB report showed on Monday.
“Corporate vulnerabilities have increased to levels last observed at the peak of the euro area sovereign debt crisis, but remain below levels reached in the aftermath of the global financial crisis,” the ECB said a stability report article.
For a graphic on Euro zone: policy support has kept companies afloat:
[…] Having bought over 20 billion euros worth of corporate debt this year in an emergency bond purchase scheme, the ECB has been a cornerstone in providing funding to companies.