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.
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.
Government relying on safety cushion
From now on the government will have to reach for the country's liquidity safety cushion to cover its cash requirements as a result of the reduction of state revenues and the support measures for households and enterprises.
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Government 'satisfied' with Eurogroup package
The government has likened the financial agreement struck by Eurozone finance ministers on Thursday in response to the Covid-19 pandemic to a prescription of painkillers when what is really needed is antibiotics.
It was nonetheless satisfied overall with the outcome.
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EU Unlock €500bn to Support Countries Hit by Coronavirus Pandemic
A messy compromise to unlock €500bn (£438bn) of EU support for countries hit hardest by the coronavirus pandemic has been struck after Italy's prime minister, Giuseppe Conte, warned that the existence of the bloc was at stake.
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.
Athens is warming to a bond issue
Finance Minister Christos Staikouras stated on Tuesday that a market foray in the next couple of months is possible for the Greek state, so as to finance the country's cash needs.
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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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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.