ECB's Villeroy says new package will be effective

FILE PHOTO: Governor of the Bank of France Francois Villeroy de Galhau delivers a speech to open a conference entitled "Bretton Woods: 75 years later" in Paris, France, July 16, 2019. REUTERS/Philippe Wojazer

PARIS (Reuters) - The European Central Bank’s new crisis response package to fight the impact of the coronavirus outbreak impact will be effective, ECB governing council member Francois Villeroy de Galhau said on Friday.

Villeroy, who is also governor of the Bank of France, told French BFM Business radio that there would be no liquidity problems.

Villeroy also urged companies drawing on credit lines unnecessarily as a precaution to be reasonable.

Reporting by Leigh Thomas; Writing by Matthieu Protard