European Union leaders wrangled over how far to go on rolling out emergency aid for their economies hit by the coronavirus on Thursday, with ...
BRUSSELS: European Union leaders wrangled over how far to go on rolling out emergency aid for their economies hit by the coronavirus on Thursday, with Germany and the Netherlands opposing calls by Italy to issue joint debt.
The EU is also considering a credit line worth some 2 per cent of economic output from the European Stability Mechanism bailout fund of the 19-member common-currency euro zone. Berlin and its allies say all EU states can still finance themselves on the debt market and the European Central Bank has also announced emergency bond purchases to put 750 billion euros into circulation.
EU unity and solidarity had already been damaged by the 2008-12 euro zone crisis, the 2015-16 wave of immigration from the Middle East and Africa, and Britain's decision to leave the bloc.
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