EU orders economic recovery plan as countries remain divided on coronavirus response

Must Read

Number of total coronavirus cases up to 1,203 in BC, 704 patients since recovered

VICTORIA, B.C. – Provincial Health Officials provided an update, Saturday afternoon, on the latest information regarding the coronavirus in...

Group organizing show of support for frontline medical staff

FORT ST. JOHN, B.C. - A local Fort St. John group is organizing a drive-by to show...

Feds pulled between bailing out oil and gas and moving to cleaner energy

OTTAWA — Canada's oil producers could only sit and watch as the price of their product plummeted last month...

European Union national leaders told the bloc’s finance ministers Thursday to draw up new measures to tackle the devastating economic impact of the coronavirus pandemic after failing to bridge major differences over how best to share the debt burden.

During six hours of talks by video conference, the leaders also called on the EU’s powerful executive arm, the European Commission, to draw up a strategy for resuscitating their choked economies once lockdowns and other health measures are lifted.

The talks came as the death toll in Europe from COVID-19 soared well beyond 13,000 people. Spain has just prolonged a state of emergency, while French President Emmanuel Macron launched “Operation Resilience,” a military-backed response to combat the illness.

- Advertisement -

Community Interviews with Moose FM


“This crisis is exceptional and unique and requires a very strong answer,” EU Council President Charles Michel told reporters after the summit. Euro zone finance ministers will have to continue working and make proposals on tools “within two weeks,” he said.

Story continues below advertisement

In a joint statement, the leaders said those economic “proposals should take into account the unprecedented nature of the COVID-19 shock affecting all our countries.”

As the virus has taken hold, the Commission — the guardian of the EU’s rule book — has permitted unprecedented border and economic measures so that embattled member countries like Italy and Spain, but also many others, can save supply chains and businesses.

5:35Coronavirus outbreak: How long social distancing could last

Coronavirus outbreak: How long social distancing could last

But while the leaders all acknowledge the extent of the crisis and the need to support Italy in particular,

Advertisement


 » READ MORE FROM GLOBAL NEWS

Latest Stories from Energeticcity.ca

More Articles Like This