Euro Countries Agree on Half Trillion Euros in Support
Friday, 10 April 2020 11:23 WIB | GLOBAL |Global

Governments from the 19 countries that use the euro overcame sharp differences to agree Thursday on measures that could provide more than a half-trillion euros ($550 billion) for companies, workers and health systems to cushion the economic impact of the virus outbreak.

Mario Centeno, who heads the finance ministers' group from euro countries, called the package of measures agreed upon "totally unprecedented ... . Tonight Europe has shown it can deliver when the will is there."

The deal struck Thursday among the finance ministers did not, however, include more far-reaching cooperation in the form of shared borrowing guaranteed by all member countries.

The officials left that issue open, pushing the question to their national leaders to sort out down the road as part of a further discussion about a fund to support the economic recovery in the longer term. Still, Italian Finance Minister Robert Gualtieri tweeted that shared borrowing through "eurobonds" had been "put on the table."

Borrowing together to pay for the costs of the crisis was a key demand from Italy, Spain, France and six other countries. Italy and other indebted members are expected to see their debt load increase because of the recession caused by the virus outbreak. But shared debt was rejected by Germany, Austria and the Netherlands. Netherlands Finance Minister Wopke Hoekstra tweeted that "we are and will remain opposed to eurobonds."

The question now is whether the package will be seen as big enough to impress markets and enable eurozone governments to handle new accumulations of government debt from the recession. The concern is that increased borrowing could in the longer term trigger a new eurozone financial crisis like the one that threatened the currency union in 2010-2015. For now, bond-market borrowing costs of indebted countries such as Italy are being held in check by the European Central Bank, which has launched an 870 trillion-euro bond purchase program. But that program is so far limited in size or duration.

Source : VOA

RELATED NEWS

Democratic Lawmakers Raise Concerns Over TikTok Privacy Regulations
Friday, 29 May 2020 23:46 WIB

Fourteen Democratic members of the U.S. House of Representatives' Energy and Commerce Committee are requesting that Federal Trade Commission regulators investigate the popular video app TikTok for violations of children's privacy. The Energy and Commerce Committee conducts oversight on the FTC's pr...

Protesters in Kosovo Oppose President's Nominee for Prime Minister
Friday, 29 May 2020 17:54 WIB

Protesters supporting Kosovo's ruling Self-Determination Movement, or Vetevendosje!,  took to the streets of Pristina, the capital, Thursday to oppose President Hashim Thaci's nominee to be the country's new prime minister after the Constitutional Court upheld his decree for the nomination. A ...

Trump and Macron Agree to Hold a G7 Meeting in the White House
Friday, 29 May 2020 10:38 WIB

The White House said United States President Donald Trump and French President Emmanuel Macron agreed the G7 Group meeting should hold a direct and immediate meeting. The two leaders opposed the country after a telephone discussion on Thursday (28/5). Trump in March 2020 canceled the meeting of th...

US Coast Guard Seizes Half Ton of Cocaine near Puerto Rico
Thursday, 28 May 2020 23:09 WIB

The U.S Coast Guard said crews from two of its cutters recovered nearly 500 kilograms of cocaine off the coast of Puerto Rico. Authorities announced on Wednesday that a helicopter crew first spotted the 45-kilogram bales of cocaine near a debris field of the U.S territory's Desecheo Island on Frida...

Rugby Resumes in Australia After Weeks of COVID-19 Lockdowns
Thursday, 28 May 2020 17:52 WIB

The first major sporting competition in Australia is restarting Thursday after weeks of COVID-19 lockdown. The National Rugby League (NRL) has adopted strict biosecurity measures and has developed a health check app for players. Australia's National Rugby League season was suspended on March 23 bec...

ANOTHER NEWS
Hong Kong stocks end week with more losses (Review)
Saturday, 30 May 2020 03:29 WIB Hong Kong stocks finished with more losses Friday as traders nervously await Donald Trump's news conference, in which he will set out the US response to China's plans to impose a security law on the financial hub. The Hang Seng Index fell 0.74...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.