The European Union's future is in jeopardy if it cannot come up with a joint financial response to combat the new coronavirus, Spanish officials warned on Wednesday, after the bloc failed to agree on more support for their reeling economies.
MADRID - The European Union’s future is in jeopardy if it cannot come up with a joint financial response to combat the new coronavirus, Spanish officials warned on Wednesday, after the bloc failed to agree on more support for their reeling economies.
Government spokeswoman Maria Jesus Montero said Europeans will begin to lose trust in the EU if it does not act together in the crisis, which she compared to the Second World War. However, both also said they were optimistic further negotiations would eventually yield positive results, even though EU finance ministers failed to reach agreement in all-night talks and suspended their meeting until Thursday.
Sources and officials said a feud between Italy and the Netherlands over what conditions should be attached to euro zone credit for governments fighting the pandemic was blocking progress on half a trillion euros worth of aid.
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