Eurozone to put finishing touches to credit line for pandemic-hit governments
Eurozone finance ministers hope to agree on Friday on the final details of credit lines from the ESM bailout fund for governments in need of cheap cash to deal with the coronavirus pandemic, so that the money can be available from June.
The pandemic support tool is the main topic on the agenda of the videoconference of ministers from the 19 countries sharing the euro, which will also discuss European Commission economic forecasts and briefings from previous G7 teleconferences.
"I am optimistic the Eurogroup will be in a position to endorse the relevant documents on Friday, and European Stability Mechanism (ESM) governing bodies will convene next week to adopt them formally, so that the instrument is ready for use from June 1," a senior eurozone official said.
There is already agreement that the ESM should offer credit lines, with almost no strings attached, of...
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