BRUSSELS: The European Union faces an existential threat if it cannot come together to combat the coronavirus crisis, Italy said on Thursday (Apr ...
A man wearing a face mask walks past the European Commission headquarters as the spread of COVID-19 continues in Brussels, Belgium. REUTERS/Yves HermanBRUSSELS: The European Union faces an existential threat if it cannot come together to combat the coronavirus crisis, Italy said on Thursday as the divided bloc sought to salvage talks on a rescue package to aid battered economies.
France and Germany are pushing for a compromise to break the deadlock, but budget hawk Austria said that, while it was willing to make concessions, the contentious"euro bonds" remained a no-go for Vienna.A senior EU diplomat said the risk was growing that the finance ministers would just patch up divisions for the sake of announcing a deal, but would leave the key unresolved issues to national leaders.
Italy, and most other countries, is ready to accept very light conditions, but the Netherlands wants stricter rules, including country-specific economic criteria, which is politically unacceptable for Rome.
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