The Hague and Vienna are insisting on including stricter conditionality attached to loans for coronavirus-hit countries, toughening up the formula proposed by the eurozone’s bailout fund (ESM) and seen by EURACTIV.com.
Countries of the euro area are close to an agreement to use the European Stability Mechanism to provide credit lines of up to 2% of their GDP to tackle the consequences of the coronavirus COVID-19.
The financial crisis management tool of the eurozone countries must be activated without delay and without conditions, said French Economy Minister Bruno Le Maire before the Eurogroup meeting on Tuesday (24 March). EURACTIV France reports.
EU member states took the unprecedented decision to suspend the Stability and Growth Pact obligations on Monday (23 March), in order to allow billions of euros in extra spending to mitigate the "severe economic downturn" caused by the coronavirus.
Italian Prime Minister Giuseppe Conte called Friday (20 March) for the European Union to tap the "full firepower" of its rescue fund to combat the coronavirus outbreak.
Germany and The Netherlands, two of the most staunch opponents to the idea of issuing common debt in the eurozone, would be “open” to discuss eurobonds to mitigate the economic impact of the coronavirus COVID-19.
Giuseppe Conte, the Italian Prime Minister, urged EU leaders on Tuesday (17 March) to take extraordinary measures and consider issuing joint debt at EU level in order to help Europe's economy recover from the coronavirus crisis.
Euro area countries have mobilised around 1% of their GDP (€120 billion) to fight against the economic fallout from the coronavirus but continued to disagree over deploying a joint fiscal stimulus, after a joint teleconference held on Monday (16 March).
Members of the European Parliament called on member states and EU institutions to adopt a more ambitious package to address the economic fallout of the coronavirus COVID-19, as the European economy is expected to fall into recession this year due to th...
After seven years of growth, the eurozone's outlook is deteriorating. There is a risk of a recession if the trade war with Washington worsens, while member states continue to disagree over the completion of the economic and monetary union that would he...