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14 April 2020EU could need a € 1,500 billion recovery fund after the coronavirus pandemic. Valdis Dombrovskis, vice president of the EU Commission, told the German economic newspaper Handelsblatt. On how to finance it "so far nothing has been decided" and the issue of European common bonds will be "on the table" at the meeting of the heads of government on April 23 but the Latvian adds that "we could finance the fund with bonds supported by a guarantee from the States States ".The Commission "is working on new financial instruments" beyond the national contributions that usually flow into the EU's seven-year budgets, added Dombrovskis. Northern states such as Germany and the Netherlands have so far opposed the Eurobond hypothesis: "We must be clear with ourselves that we are in an unprecedented crisis - stressed the Latvian commissioner -. It is becoming necessary to get out of old mental patterns ".