Requesting the European Union to issue common euro zone bonds to showcase the solidarity of the EU comprising of the 19-nation euro currency bloc in tackling the coronavirus crisis, Italy’s Prime Minister Guiseppe Conte has called for action.
Prime Minister Guiseppe Conte’s request isn’t related to socialising previous or future individual Italian debt and wants the joint bonds to be specifically applied and limited in time.
He also said that Germany and the Netherlands must change their views to signal that Europe speaks as one. According to Guiseppe Conte, both Germany and the Netherlands does not consider common euro zone bonds the right way to support health spending and economic rescue packages in the euro currency bloc.
So as to tackle the economic crisis caused by the pandemic, the European Union is to hold a virtual meeting on April 23 that will address the differing views on corona bonds, as demanded by the southern EU member states.