Eurozone mulls package to support economy against coronavirus
With the eurozone economy in need of help during the coronavirus epidemic, officials have until April 9 to design a package that satisfies members with completely opposing views: those calling for joint debt issuance and those fiercely against it.
Mutualizing debt has always been a red line for Germany, the Netherlands, Finland and Austria, but France, Italy, Spain and six other countries have called for "a common debt instrument issued by a European institution" to fight the economic effects of the epidemic.
EU leaders failed to agree last Thursday what to do and gave ministers two more weeks to work it out. Deputy finance ministers will debate options on Wednesday and Monday and the finance ministers themselves are to hold a teleconference on April 7.
A compromise might emerge by early next week that would include one or more of the following elements in a...