The agreement concluded Thursday evening between the finance ministers of the 27 on a common economic response to the crisis caused by the coronavirus pandemic "marks an important day for the EU", said the French Minister for the Economy, Bruno Le Mayor. In the midst of the Covid-19 epidemic, the deadlock in discussions on the adoption of a recovery plan was considered a threat to the cohesion of the euro area, and therefore of the European Union.
The French minister also estimated the entire recovery plan at around "500 billion euros", during a press briefing. Italy, the European country most affected by the pandemic with more than 18,000 dead, also welcomed the agreement through the voice of its Minister of Economy Roberto Gualtieri. In a tweet, he hailed "an ambitious proposal", adding that his country "would fight to make it happen".
"We have answered the call of our citizens"
"Eurobonds have been put on the table, the conditions of the MES have been removed from the table", he also rejoiced, while his country has repeatedly called for a European loan in the form of eurobonds, also called coronabonds, and refused any condition attached to loans from the European Stability Mechanism (ESM).
German Finance Minister Olaf Scholz said the Thursday evening agreement was "a great day for European solidarity". "Today, we have responded to our citizens' call for a Europe that protects," said Eurogroup president Mario Centeno of Portugal at a press conference. The finance ministers' proposals have yet to be approved by the heads of state and government.
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Economy
The Netherlands no longer blocks, the 27 EU countries reach a common economic response
- Bruno Le Maire
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- Economic crisis
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- Covid 19
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