The European Union's vice president Validis Dombrovskis says the EU is ready to suspend fiscal rules if needed, Bloomberg News reports.
The EU's goal is to make sure the region's companies "have the liquidity they need to withstand the shock," he said via Twitter.
"We have all the tools we need at our disposal," he said. "We will use them fully as the situation evolves."
The euro weakens 0.4% against the U.S. dollar.
Vanguard FTSE European ETF jumps 7.1% in premarket trading.
Previously: Italy leads European bounce as policymakers walk Lagarde's words back (March 13)
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