Coronavirus: EU does not rule out issuance of common bonds

Text by: Pierre Benazet

The President of the European Commission, Ursula von der Leyen, does not rule out the issue of joint bonds to deal with the pandemic. Questioned this Friday by our colleagues from German public radio Deutschlandfunk, the President of the European Commission, opened the door to common economic instruments to deal with the Covid-19.

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From our correspondent in Brussels,

* For Ursula von der Leyen we must not dismiss the idea of ​​common obligations linked to the pandemic or coronabond , as they are nicknamed in English. " We must unconditionally support our economy, " says the President of the European Commission. “ We are studying all the instruments and what can help will be implemented. "

To combat the “external shock” of the pandemic, the European Union must be generous in relaxing its budgetary rules, do everything to avoid bankruptcies , do everything to maintain the employment of Europeans, Ursula von der Leyen believes.

The sharing of public debt of States

The idea of ​​issuing common bonds breaks a taboo of the European Union, a taboo especially in the countries with the healthiest public finances like Germany and the Netherlands, very hostile to a division of the public debt of the Undisciplined and spending states.

The idea of coronabonds was first put forward on Tuesday March 17 by the President of the Italian Council, Giuseppe Conte. Since then, these joint obligations have received a considerable boost since both the Dutch Prime Minister and the German Chancellor have said they are ready to consider it.

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• Coronavirus
• Health and Medicine
• European Union

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