EU Leaders Struggle For Unified Virus Response
EU leaders on Thursday will try to unify Europe's scattershot response to the COVID-19 outbreak that has crippled Europe, with France and Italy calling for "corona bonds" to help jump start the economy
Brussels, (UrduPoint / Pakistan Point News - 26th Mar, 2020 ) :EU leaders on Thursday will try to unify Europe's scattershot response to the COVID-19 outbreak that has crippled Europe, with France and Italy calling for "corona bonds" to help jump start the economy.
Early on, member states privileged national responses by shutting borders, hoarding medical supplies and waving through major spending plans regardless of EU rules.
"When Europe really needed to be there for each other, too many initially looked out for themselves," European Commission chief Ursula von der Leyen said ahead of the talks.
According to a draft statement, measures should include building an emergency stock of medical equipment and easing inter-EU border closures.
They will also rubber stamp the suspension of EU deficit rules that will allow countries to spend freely to fight the virus regardless of deficits.
The 27 leaders will in addition task EU officials to start work on an "exit strategy" and recovery plan to help rebuild the economy after the havoc wrought by COVID-19 and the drastic shutdown measures taken to fight it.
- 'Indecently ideological' - In their own call for EU solidarity, nine EU leaders ahead of the talks said any economic plan should include the launch of joint borrowing by members of the euro single Currency.
They say it could serve as the bedrock of a safer and more unified European economy and would become a globally respected asset on par with the US Treasury bills.
Thursday's summit will also take stock of measures taken across the bloc to promote the search for a vaccine.