Eurozone ministers focus on quick options to support economy in wake of Covid-19

Eurozone finance ministers are likely to converge on Tuesday on three quick options to support the economy in the wake of the coronavirus epidemic, officials have said, with some discussion also of longer-term ideas to aid a recovery.

EU leaders asked the ministers on March 26 to come up with proposals for cushioning the effects of the pandemic, which economists expect will push Europe into a deep recession this year as activity has slowed to a crawl amid lockdowns.

"The ministers are likely to put together a list of ideas for leaders to discuss and choose from. They do not all have to have the full backing of all the ministers," one senior eurozone official said.

"The three ideas that are likely to get the most support are probably the use of the ESM bailout fund, the European Investment Bank and the Commission's short-time work scheme," the official said.

...