European Union finance ministers deadlock on coronavirus economic strategy

“We need more work, that was the end of the evening,” Mário Centeno from Portugal told reporters after chairing the meeting. “The mandate we get from [leaders] is absolutely the key to the next steps. “

The standstill will pass these questions on to EU leaders, who are planning a video conference summit on Thursday.

Compared to the idea of ​​corona bonds, many countries preferred the option to open lines of credit from the European Stability Mechanism (ESM), said Centeno – although nothing was agreed.

ESM chief Klaus Regling said there is support for an idea of ​​lines of credit that could support 2 percent of a country’s economic output in the eurozone and conditions for the use of money by governments.

“But it [would be] It is up to each Member State to decide whether or not to apply for it, ”he said.

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