Swift EU deal needed or 'we all collapse' says Di Maio

Minister 'not interested in names of instruments, but solution'

(ANSA) - Rome, April 7 - Foreign Minister Luigi Di Maio said Tuesday on a Eurogroup meeting to find an economic response to the coronavirus crisis that "I think it is in everyone's interest, with a crisis of this scale, to swiftly find an accord that guarantees the future of the whole of Europe.
"Because here it is not a question of individual countries, but as I already said: if one falls we all fall. And I repeat that I'm not interested in the names of the instruments to be used, but to arrive at a solution that is satisfactory for the Italian and European people".
The Eurogroup is trying to find a compromise between Italy, France and Spain, on the one hand, who want 'coronabonds', and northern deficit hawks like the Netherlands, Denmark and Finland who advocate the use of the European Stability Mechanism (ESM), rejecting any mutualizing of debt.
Germany was said to be somewhere in the middle but Finance Minister Olaf Scholz made no mention of euro bonds when he said three options were on the table: accessing 2% of GDP via the ESM, using the European Investment Bank, and the EU anti-unemployment SURE scheme.

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