Italy PM says EU’s future at stake over its response to coronavirus

69

Italy’s prime minister Giuseppe Conte stated the very way forward for the European Union was at stake over its response to the coronavirus.

“We need an economic and social response at the European level. It’s a big challenge to the existence of Europe. If Europe fails to come up with a monetary and financial policy adequate for the biggest challenge since World War Two, not only Italians, but European citizens will be deeply disappointed”, Conte instructed the media.

The feedback come as EU finance ministers on Tuesday didn’t agree on learn how to assist their economies. Germany expressed hope the ministers would agree on a €500 billion financial rescue package deal on Thursday.

Southern EU states, led by Italy, demanded far-reaching measures like issuing joint debt, whereas the Netherlands, known as for extra restraint and narrowly centered measures. On the European Stability Mechanism, the 2 clashed over circumstances for accessing the cash.

“If we do not seize the opportunity to put new life into the European project, the risk of failure is real”, Conte stated.