European Stability Mechanism

Eurozone govts agree on cheap loans for countries hit by pandemic, sources say

Eurozone finance ministers agreed on Friday to offer cheap credit lines that can be tapped until the end of 2022 by countries hit by the coronavirus pandemic, two European officials said.

"All agreed. The program can be used until the end of 2022," one of the officials said.

Pressure on hardline Hague to reach Covid-19 rescue package, Italy warns of possible breakup

European Union governments piled pressure on the Netherlands on Thursday to unblock half-a-trillion euros of economic support to fight the coronavirus ahead of a meeting of finance ministers, with Italy saying the very future of the EU was at stake.

ECB Board-Member Schnabel says one-off ‘coronabon’ possible in interview with ‘To Vima’

Help to euro zone members struggling under the weight of the coronavirus crisis should come from the European level, European Central Bank board member Isabel Schnabel told the Sunday To Vima in an interview with diplomatic correspondent Angelos Athanasopoulos.

Solidarity in crisis

The idea of a joint borrowing tool to help Europe get back on its feet and reboot the economies of its member-states after the devastating impact of the coronavirus pandemic is extremely important.

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