Thursday, 09 Apr 2020 04:15 PM MYT
In a 16-hour videoconference that stretched through the night from Tuesday afternoon, the ministers failed to seal a deal on how far to go to support their stricken economies. The ministers are due to reconvene at 1500 GMT on Thursday to try to agree on the package that includes precautionary credit lines from the euro zone’s ESM bailout fund, more lending for companies via the European Investment Bank and funding to help companies maintain liquidity during an economic slump by reducing work hours, rather than cutting jobs altogether.
“It’s important that we take this decision today on the 500 billion euros that is in discussion - that’s an incredibly large sum of money that we could use to help a lot of people, especially in the hardest hit countries, Spain and Italy,” German Economy Minister Peter Altmaier told a radio interview.
The bloc has already relaxed curbs on state aid and public spending to help countries through the virus-induced economic slump.
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