Suddenly staring recession in the face, European leaders are lining up an array of tax breaks, financial support for companies and likely central bank measures in the hope of preventing the coronavirus outbreak from dealing long-term damage to the economy. Expectations have grown that European Central Bank officials will announce more monetary stimulus when they meet Thursday, including an interest rate cut and corporate bond purchases aimed at supporting business borrowing. And the European Commission says it plans to bring forward existing funding to create a 25 billion-euro ($28 billion) investment fund to support the health care system, businesses and labor market measures. Yet any such actions will likely be more damage limitation than cure. Monetary stimulus and government spending can spur demand for goods. But the coronavirus deals a shock from the supply side by closing businesses and making people stay home, highlighted by […]