Mes, Centeno: agreement on all details awaited in the Eurogroup

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"Today the Eurogroup is expected to find agreement on all aspects and details of the support instrument for the pandemic crisis founded on the 'backstop' for States '. This was indicated by the President of the Eurogroup Mario Centeno.

The' backstop is the European Stability Mechanism (State bailout fund). These are loans to governments. The Eurogroup meeting is by videoconference.

The Mes anti-pandemic credit lines will be "fully operational in mid-May". , on a social network, before the meeting of the euro area finance ministers. Once the credit lines have been created, "we will focus on creating a substantial recovery fund to support our economies," he concludes.

There will be no macroeconomic adjustment programs required from States benefiting from loans from the European Stability Mechanism and the European Commission will monitor direct and indirect health expenditure financed by the Mes funds in the framework of the European budgetary policy monitoring semester. Without special missions in the capitals, without Troika, to refer to the surveillance model experimented in Greece and in the other states saved from the Eurozone.

This is indicated by a series of documents that the European Commission has sent to the Eurogroup and to the Mes ahead of today's Eurogroup meeting and in a letter from the Vice-President of the Commission Valdis Dombrovskis and the head of the Economy Paolo Gentiloni to the President of the Eurogroup Mario Centeno.