The officials left that issue open, pushing the question to their national leaders to sort out down the road as part of a further discussion about a fund to support the economic recovery in the longer term. Still, Italian Finance Minister Robert Gualtieri tweeted that shared borrowing through "eurobonds" had been "put on the table."
The question now is whether the package will be seen as big enough to impress markets and enable eurozone governments to handle new accumulations of government debt from the recession. The concern is that increased borrowing could in the longer term trigger a new eurozone financial crisis like the one that threatened the currency union in 2010-2015.
The agreement also provides for up to 200 billion euros in credit guarantees through the European Investment Bank to keep companies afloat and 100 billion euros to make up lost wages for workers put on shorter hours. The deal overcame bitter disagreement between Italy and the Netherlands over the conditions for loans from the bailout fund, the European Stability Mechanism. Italy had rejected the idea of using the fund because of the ESM's requirement that the money come with conditions to reform. That recalled the tough conditions that recalled the austerity imposed on Greece, Ireland and other indebted eurozone countries that were bailed out during the eurozone debt crisis.
Bumbling EU bureaucrats. I don’t place a lot trust in these turkeys.
dkreative1 Now when shall we expect all the nations of the world to send their staggering Bills to the Chinesegovernment? Of course those monsters will be protected by the now infiltrated, conned and utterly helpless UN.
How will they deal with paying this money back. Great Depression v2.0!
Health Health Latest News, Health Health Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CTVNews - 🏆 1. / 99 Read more »
Source: HuffPostCanada - 🏆 61. / 53 Read more »