The €240 billion in ‘cheap’ loans for countries affected by the coronavirus COVID-19 will be available as from 15 May, 15 days ahead of the expected date, European Stability Mechanism (ESM) chief, Klaus Regling, said on Friday (8 May).
The Eurogroup will discuss on Friday (8 May) the German Constitutional Court's controversial ruling on the European Central Bank's critical bond-buying programme but will not take a position, according to EU sources.
The EU member states are finally discussing an ambitious European Recovery Plan and the good news is that they already have the right tool at hand, writes Dragoș Pîslaru.
In an interview with the Portuguese newspaper Público, the President of the Eurogroup, Mário Centeno, shared some leads about the EU’s recovery plan. He believes that the new recovery plan should have its “own, appropriate and innovative funding mechanism”.
Following the Eurogroup’s agreement on the economic response to the coronavirus, European Commission vice-president Valdis Dombrovskis on Friday (10 April) welcomed the €540 billion package in an exclusive interview with EURACTIV.com
The Eurogroup finally agreed on a €500 billion package to support member states, companies and workers in the coronavirus crisis, after The Netherlands and Italy overcame they differences. Leaders will discuss in the coming days the recovery plan and the possibility of ‘coronabonds’.
Italian Prime Minister Giuseppe Conte warned Thursday (9 April) that the European integration project was at risk if EU member states do not find an economic response to the coronavirus crisis.
After a 16-hour teleconference that concluded on Wednesday morning (8 April), eurozone finance ministers failed to find an agreement on the economic package to tackle the economic impact of the coronavirus.
EU countries are nearing an economic rescue plan for European countries worst hit by the coronavirus outbreak, sources said on Monday (6 April), but not at the level of ambition called for by Italy and Spain.
The EU's next long-term budget should be a key instrument in the recovery plan to confront the huge economic consequences of the COVID-19 crisis, European Commission President Ursula von der Leyen said on Thursday (2 April).