BRUSSELS - European Union finance ministers failed in all-night talks to agree on more economic support for their coronavirus-stricken economies, spurring Spain to warn the bloc’s future was on the line if it did not forge a joint response to the crisis.
A persistent stand-off between a camp of financially ailing southern European Union states led by Italy on one side and the Netherlands acting as the bulwark of the fiscally conservative north on the other was blocking progress. The EU has already relaxed limits on state aid and public spending to help its 27 member states combat the slump and restart growth.
The aid package under discussion would see credit lines from the euro zone’s European Stability Mechanism bailout fund providing cash worth up to 2% of a country’s economic output or 240 billion euros in total for the 19-nation euro zone. “This is largely about language,” said a second official present at the talks. “There is a broad understanding that in the short run conditionality should focus on health, and in the long run on the effort to return to a stable position.
Hard to believe
The UK is lucky to be out!
This is a crucial issue on which the European Union's future is at stake
The EU squeeze countries like an orange but when things go bad for them no rescue can't be approve. I don't want to be part of that club.
Wow! Shocking!
Of course they did
jointly debt? Understandable that Italy is all for it. Help should be only available for debt that has to do with the virus crisis. Europe is not responsible for the mismanagement of Italy before or their Bunga Bunga Parties.
EU is ambutated from brexit and dissolving
Thank God the UK won’t have to pay anything extra. The UK just needs to sort itself out without throwing money into a pot to bail out Italy, Spain and France.
Italy has been clear on its position 'Equitable Restitution'... I stand by Conti.....
Correct the subtitle :they not fail, they suspended
Thank GOD we are no longer led by these incompetent fools. Lovely Europeans, these morons are failing you, please stand up and reject them. Be independent. Stay independent and strong.
'EU ministers fail' ...end of story.
No shit
No surprise
Au revoir EU... :(
Alternative headline: EU learns nothing from catastrophic mistakes of US Senate.
bankruptcy !!
Shocking! 😂
What is the phrase? Something about, EU leaders fiddling while their members burn...
Perché la UE non è una nazione, non è una confederazione, non è un'unione: è solo un aborto malriuscito. Non è un sogno:è un incubo. Non è verità: è falsità. È ora di prendere atto della realtà e scioglierla.
Disunion rather than union...that has been the norm when it comes to reaching tough solutions...too many cooks
The EU had better think long and hard about their future relations with China. Especially in telecoms, 'Road & belt' and supply chain. I Chinese espionage and intellectual proper theft wasn't enough. GlobalTariffOnChineseGoods
Because it’s collection of countries not a country !
Sit around long enough we can spend all the cash on lunches and a fee hotel room. Yay 👍👍 go go EU
Disuelvan ese antro
Sad
They could give back all the money they've taken from those countries over the years. 👍
The Dutch government has its finances in order. Much has been cut over the years. We have paid, 'the population' a lot for that. Italy has never cut costs like Spain. And now that their economy is collapsing, they expect our money. Money that the Dutch population can pay!
Which European Union ?
Headline does not do justice. Some aid agreed, almost agreed this package it's terms are in dispute.. meet Thursday... its a trade block not a government and cooperation is consensual.
Europe standing tall in the face of adversity.
European Union reformed public mail, rail and health making them all work as private businesses evaluated on their results. Now it's time to reform the European institution and that we evaluate the results. Time to remove this burden from our shoulders. EUCouncil coronavirus
No more EU, no more EU
China to the rescue! 😁
Only cos they're trying as hard as possible to delay on having to cough up any Money to help anyone else...
After Brexit, who's next?
Fuck eu and free movement
lol
But they managed to agree to give over €2bn to North Africa. I can't imagine how this must look to the people of Spain and Italy
They can't agree on how much money to print (that they don't have), by blowing up their collective debt even further. This is so that the bankrupt countries to the south can be funded even longer! How wonderful & altruistic.
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