finance Ministers will resume Thursday meeting on the economic package of emergency with a total size of 500 billion euros.
After 16 hours of talks EU finance ministers still disagree on a big economic package of emergency measures to help countries in the union, which is the hardest hit by the coronavirus.
the Meeting will resume Thursday, says Eurogroup head, Mario Centeno.
the Countries are discussing a number of proposals, which together would represent a package of emergency in the 500 billion euro.
One of them is the flexible loans from the EU bailout fund (ESM), which was created during the financial crisis in 2012. Here is the disagreement about the conditions.
While the Netherlands continued to insist that there must be requirements attached to loans from the ESM, requires Italy to be able to borrow without.
Germany and France took the role as kompromismagere, and before midnight, they presented two large EU countries, a proposal – but it could not gather all of the countries.
– In these difficult times, Europe must stand close together, writes the German finance minister, Olaf Scholz, on Wednesday on Twitter.
the Netherlands and Italy are also disagree on what is perhaps the most radical proposal. It is the southern european countries ‘ persistent appeal to get shared debt by issuing coronaobligationer.
It is bonds issued on behalf of the entire eurogroup, which can help the beleaguered economies like the Italian and the Spanish.
the Meeting of the Eurogroup was launched on Tuesday at 16.30, and it lasted all night.
– After 16 hours of negotiations we came close to an agreement, but we are not there yet. I suspended the eurogroup, and we will continue on Thursday, says Centeno.
Portugiseren have before the meetings emphasized that there is talk about a “synchronous shock”, i.e. that all countries are affected simultaneously by the same “enemy” – namely coronaviruses.
however, It remains to be seen to what extent countries outside of the euro group, will participate in the individual parts of the crisis package.
A country like Denmark is not in the euro area and thus not part of the bail-out fund ESM.
Finance minister Nicolai Wammen (S) attended, however, as the other
the non-euro area countries, the ministers in videomødet, since it was kept in the inclusive format. That is to say, to all EU-countries.
Usually, when the Eurogroup will meet, there is first a meeting of the 19 members, and then meet all EU finance ministers.
/ritzau/
