Eurogroup fails to agree on economic response to COVID-19

European finance minister failed to reach a consensus on the bloc’s economic response to the coronavirus crisis following 16 hours of discussions.

“After 16h of discussions we came close to a deal but we are not there yet. I suspended the Eurogroup & continue tomorrow,” Eurogroup President Mario Centeno wrote on Twitter on Wednesday.

The major sticking point in talks have been corona bonds, common debt instruments pushed by France, Italy, Spain, and six others to help finance massive public spending and stimulus packages amid the crisis. Germany, the Netherlands, Austria, and several other countries have not been on board with issuing the joint bonds.



Breaking the News / JC



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