Italy has asked the EU to use its bailout rescue fund to mitigate the economic impact of the coronavirus, as the number of deaths in Italy continues to rise.
Conte said that the EU should make use of a 500 billion euro fund, created at the height of the last decade's sovereign debt crisis to bail out nations, to finance countries which are struggling to cope with the outbreak.
Gualtieri is not the first to discuss the possibility of issuing joint European debt, often named as Eurobonds. European leaders briefly debated Tuesday the possibility, however this is a highly sensitive topic because they would technically group debt from, for example, Italy and Germany, into one bond. Countries that are more fiscally sound do not want to have their debts associated with those of highly-indebted nations.
The ECB's 750 billion euro program, unveiled Wednesday, will buy corporate and public bonds across Europe for the rest of the year, including Greek government bonds — which until now were not deemed safe enough to invest in.
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