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4/10, 1:02 PM (Source: TeleTrader)
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Coronabonds mustn't 'backdoor' into EU deal - Austria

Austria’s Finance Minister Gernot Bluemel insisted on Friday the recent deal reached within the Eurogroup shouldn't include coronabonds, as they could damage the Eurozone's long-term stability.

"For us, the current crisis mustn't serve as a back door for a mutualization of debt through euro bonds. With this agreement the countries affected can be helped in a targeted way without damaging the euro area's long-term stability," explained Bluemel.

Eurozone's finance ministers have recently approved three new programs worth €540 billion in total as a relief package to mitigate the economic effects of the coronavirus crisis.

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