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3/26, 10:54 PM (Source: TeleTrader)
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Merkel, Rutte say they are against coronabonds

German Chancellor Angela Merkel and Dutch Prime Minister Mark Rutte both said on Thursday they were against eurobonds, that have also been dubbed "coronabonds" when European Union leaders discussed options on helping the Eurozone amid the COVID-19 pandemic.

The two also agreed that the European Stability Mechanism (ESM) was invented for crises like the current one and noted it should be used. Meanwhile, the European Union confirmed that Eurogroup finance ministers have been given two weeks to come up with a solution on the technical details of a bailout fund.

Earlier, Italy and Spain called for joint EU debt to be introduced to help fight the COVID-19 pandemic economic impact.

Breaking the News / VP