ECB's Lagarde welcomes Franco-German EU recovery fund plan

PARIS (Reuters) - European Central Bank President Christine Lagarde welcomed a proposed 500-billion euro ($546-billion) coronavirus recovery fund proposed by France and Germany on Monday, saying it would bring much-needed relief to the worst-hit EU countries."The Franco-German proposals are ambitious, targeted and welcome," Lagarde said in a joint interview with four European newspapers, after announcement of the plan sent the euro higher and reduced Italian bond yields.The proposals "open the..