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ECB's crisis plan reduces fragmentation risks to euro area: French minister

FILE PHOTO: French Finance Minister Bruno Le Maire attends a news conference to kick off the France's national lottery operator Francaise des Jeux (FDJ) listing with the opening of the share subscription process in Boulogne-Billancourt, near Paris, France, November 7, 2019. REUTERS/Gonzalo Fuentes

PARIS (Reuters) - The European Central Bank’s new bond purchase scheme will help reduce the risk of fragmentation between euro zone states, France’s finance minister said on Thursday.

“The plan that the European Central Bank announced is the right one,” Bruno Le Maire, told France Inter radio station.

“It’s a massive plan because it foresees 750 billion euros ($813 billion) in asset purchases, it will have a strong economic impact because it will allow companies to be better financed and it will have a major political impact, it will reduce the risk of fragmentation in the euro zone,” Le Maire added.

Reporting by Leigh Thomas; Editing by Mathieu Rosemain