“This is the time” for the EU to take on financing responsibilities

in News · 26-03-2020 09:52:00 · 0 Comments

Minister of Foreign Affairs, Augusto Santos Silva, has insisted on the importance of the European Union (EU) issuing 'eurobonds', stressing that "this is the moment" for the 27 to assume the responsibilities of financing by Member States.

"This is the moment when the European Union and the Member States must be clear in jointly assuming the financing responsibilities of States so that they have the means to implement measures to support health systems, families and companies" , said the minister at the press conference that followed the extraordinary meeting of the social consultation, in Lisbon.

Eurobonds, also called "coronabonds" due to the pandemic related to the new coronavirus, correspond to the issuance of government bonds on behalf of the EU, and not at national level, to protect the most fragile countries from market speculations and fees very high interest rates.

Asked whether he believes in a consensus, at the European summit on Thursday, after the stalemate registered on Tuesday at the Eurogroup meeting regarding the issue of ‘eurobonds’, Santos Silva assured that “Portugal will actively fight for that consensus”.

“We understand that this European consensus is necessary, that Europe should move towards assuming European solidarity in all areas, including this crucial area of ??financing for the response [to the health crisis] in terms of health services and support. companies, employment, families, workers, people ”, he stressed.

The minister alluded to the letter sent today by the Prime Minister, António Costa, and eight other European leaders to the President of the European Council, Charles Michel, calling for the implementation of a common European debt issuance instrument to face the crisis caused by the covid-19 , to stress that these are “essential measures to improve the responsiveness” of countries and, as such, “a step in the right direction”.


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