This week EU Member states failed to reach a compromise on debt sharing for the fourth time amid an economic slowdown triggered by the virus. Nine EU countries – Spain, Italy, France, Belgium, Luxembourg, Ireland, Portugal, Greece and Slovenia – urged Brussels to issue so-called “coronabonds”. Coronabonds will be a collective debt among EU member states, with the aim of providing financial assistance to eurozone countries which are beaten by coronaviruses.
The funds will be shared equally and supplied by the European Investment Bank, with debt taken collectively by all EU member states.
However, the so-called “Frugal Four”, Germany, the Netherlands, Austria and Finland, opposed the move.
The Dutch Parliament issued a motion urging the government to never approve EU proposals that would hold the Netherlands responsible for the national debt of other countries.
Movement, put forward by populist, anti-EU The Forum for FvD Party Democracy is not binding but will make it politically difficult, if not impossible, for the Netherlands to support a joint debt request.
In an exclusive interview with Express.co.uk, Italian MEP Antonio Maria Rinaldi criticized the European Union’s response to Covid-19 and blamed Germany for “using” the Netherlands.
He said: “There is no leadership in Europe.
“Starting from the European Central Bank (ECB), which is guided by an incompetent figure: Christine Lagarde.
“He has to do what every bank in the world is doing, like the Bank of England and the Bank of Japan.
“It’s been like this for years.”
The Italian politician added: “What Germany is doing is disgusting and I believe that the EU will look very different when this virus ends.
“Britain should not have made a better decision in leaving this block.”
to request modification Contact us at Here or [email protected]