Germany: ESM aid should be disbursed without lengthy visits from officials

Eurozone states that need aid from the bloc's bailout fund to tackle the coronavirus should get it quickly and be first subjected to visits from officials proposing policies like during the eurozone crisis, Germany's finance minister said.

Olaf Scholz told broadcaster ARD late on Thursday he was convinced the European Stability Mechanism - a bailout fund with 400 billion euros ($433.88 billion) in firepower - had instruments suitable for use during the coronavirus outbreak, which has hit eurozone countries like Italy and Spain hard.

"We have the possibility to say we can do something as a precaution," Scholz said. He added any such action would be tied to rules but that these needed to be appropriate for the current situation in which funds were required for health and securing jobs.

"From my point of view it's especially important to ensure that if a country...