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March 25, 202023.01 "We are facing a war against the coronavirus and we must move accordingly": the challenge is "how to act with sufficient force and speed to prevent a recession from turning into a prolonged depression, made even worse by a plethora defaults that leave irreversible damage. " So Draghi, former president of the ECB, to the Financial Times. For Draghi, the response must "involve a significant increase in public debt". And the priority is "to protect people from job loss".