Germany must do all it can to avoid an economic crisis over the coronavirus and should emulate an ex-European Central Bank president who was key in containing the euro zone debt crisis, a senior ally of Chancellor Angela Merkel said on Thursday. At the height of the euro zone crisis in 2012, ECB chief Mario Draghi vowed to do "whatever it takes" to save the euro, a promise that quashed speculation against the EU's most heavily indebted countries and was seen as saving the joint currency. The rapid spread of the coronavirus in Europe is raising pressure on Germany to ditch its self-imposed pledge of not taking on new debt and unleash a large fiscal stimulus package to cushion the impact on Europe's largest economy.
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