Netherlands seeking joint EU coronavirus fund, envoy says

Issuing Eurobonds would "affect the fine balance" achieved by the Maastricht Treaty between having a common currency while safeguarding the sovereignty of European member-states over their national budgets, Dutch Ambassador to Greece Stella Ronner-Grubacic tells Kathimerini.

The Netherlands has turned down the proposal for a joint bond, proposing instead the creation of a joint European fund for battling the impact of the coronavirus with voluntary contributions from member-states. "The Netherlands is prepared to contribute the substantial amount of 1 billion euros," she says.

The global economy is facing the risk of a recession that may surpass the downturn following the crisis of 2008. What will the impact on the European economy be and what should the eurozone economic policy's main pillars be from now on?

It is difficult to predict the...