as of The ministers of Finance, have a Thursday evening through a video conference, an agreement was reached on a package of anti-crisis measures, which is the first economic shocks, to cope with the coronapandemie has been brought about.

After weeks of negotiations and often heated, words are exchanged, the ministers agreed on a package of up to € 540 billion, can mobilize to provide technical unemployed persons, businesses, and public budgets to support them. “When we are confronted with a huge threat, we may have our differences, beyond”, always greeting eurogroepvoorzitter Mario Centeno part of the deal.

the national systems of technical and part-time unemployment, and to support the Commission with guarantees from the member states, through the new SURE-programme of events up to 100 billion euros in loans, with. The European investment Bank (EIB), set up a new guarantee fund to 200 billion euros in loans to businesses and small and medium enterprises should be free.

finally, the euro-area countries have recourse to the European rescue fund ESM. They claim to have a line of credit of up to 2 percent of their gross domestic product (gdp). A lot of the discussion was about access to the fund, which, at the time of the european debt crisis, strict saneringsvoorwaarden on. That is, there are not now, however, governments may only use the money only for the direct and indirect health care expenditures” to the fund resulting from the pandemic.

De Croo: “the Important first step,”

“a lot of homes and businesses have been affected, and currently live in a state of great uncertainty. After the long debates of the past few days and weeks, it is absolutely necessary to take them today and send a clear signal of European solidarity and of giving. Also, Europe is on their side. This is an important first step in the short term, the most urgent needs to address”, is the response of the Finance minister, Alexander De Croo, on the deal.

Centeno is expected that the measures within two weeks and operational. They will need to help to make the initial shocks, but the ministers have to realise that there is more to be done to make the inevitable recession and the economic recovery is on going. “It’s important that we’re together again, started to grow, and is not, and for our market to protect it,” said Centeno.

No Eurobonds

The new Eu multi-annual budget that will have a role to play. In addition, it is a herstelfonds on the table and that massive investments need to generate to get the economy on top of it to help you. “Temporarily, “effective”, “adapted to the exceptional conditions” and “adequate funding”, as described by Centeno is the. It is now up to the eu heads of state and government, in order to continue the path of quality.

in the Southern countries such as Italy and Spain, like the common debt issue to get, for the more frugal countries such as Germany and the Netherlands, which is a bridge too far. They argue that “alternative methods”. “Eurobonds, that were, have been and continue to be, we are up against. This is a really bad idea and it would be the united states, but also, ultimately, to the rest of the European Union will not help you. That will come in, so there can’t be true, the Dutch minister of Wopke Hoekstra is still apparent.

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