European Commission

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The Basque company, the rubber gloves can flourish, but the Spanish Economy as a whole is in trouble

The Corona-Virus-pandemic-exposed deep divides in Europe, with the EU member States are at loggerheads over dealing with the economic consequences.

Italy and Spain have accused the Northern Nations led by Germany and the Netherlands - to do not enough.

the Spanish Prime Minister , Pedro Sánchez, has even warned That , if the EU is to fall with an ambitious plan to help member States with Debt -saddled by The Fight against the coronavirus, the Block could be "Apart ".

That said, a "strong package in the making".

A conference call between the Eurozone Finance Ministers on Tuesday, it went on for seven hours, and was Set Up Wednesday morning after Italy refused to return to their requirements.

A similar meeting Two Weeks ago bore little fruit. As a result, the leader of their Finance Ministers sent Back To the drawing Board.

Italy, Spain, France and some other EU countries are free of coronavirus-incurred Debt in the form of "corona bonds" (or "eurobonds would like to give") - the possibility of mutual Debt , the States help all of the EU-to pay off.

Some of these hard-hit Nations were incensed by a perceived indifference from other EU member States.

have a More prosperous countries such as Germany are still not dig deeper in their pockets to help poorer Nations such as Italy and Spain.

Italy's agony

Italy is the epicenter of The Crisis in Europe with the highest number of fatalities - More Than 17,000 remain; next Spain, with almost 14,000 dead, Johns Hopkins University, data shows comes.

Even before the economic damage from this crisis, Italy's public Debt is 133% of GDP (total output), or about $2. 3tn (£2tn), which is the highest in the eurozone after Greece .

Germany to a EU rescue Fund, and give with mechanisms, which during the financial crisis of ten years ago.

This Week , a group of Italian mayors and other politicians bought to remember a page in Germany, the Frankfurter Allgemeine Zeitung, to pay the Germany That was never made back their debts after the second World War .

Public Opinion has shifted increasingly in Germany.

Economists, politicians and commentators, the challenge once railed against the mutualisation of eurozone Debt , Greece 's rescue in the midst of the recent financial crisis, precisely to help Southern Europe to deal with the coronavirus.

The German Boulevard newspaper "Bild", with the result That the anti-Greece , the store 10 Years ago, is now calling for corona bonds. The Situation today is triggered More like a Natural Disaster , a crisis, risky lending, argues The Paper .

For years, some economists strongly on The Euro zone issue common bonds to the structural fragility of The Euro -exposed to The Crisis . But others, especially in Northern Europe , argue That the taxpayers in the richer countries should not be to Bail Out countries whose politicians were fiscally irresponsible.

agreement arising

the Finance Ministers are expected to support converge in three ways, the Economy - the use of the €410bn ($443bn; £360bn) European stability mechanism (ESM) rescue Fund, the European investment Fund; and a European Commission System called the SAFE, a new €100bn Fund to support the workers and companies affected by The Crisis .

"There is an agreement emerging on The First three options, but this is not enough," French Finance Minister Bruno Le Maire in front of journalists prior to the Tuesday session.

Mr Le Maire wants to have a Fund worth "hundreds of billions of dollars" in the joint loan taken out to Finance the economic recovery.

But Austria, Denmark, Finland and the Netherlands have refused, again, common borrowing, anxious, you could be liable for the repayment of the Debt in the member States in The South

The EU will probably also agree That the economic support through the usual channels, not through new corona bonds.

"There is a lot of room for solidarity within the existing instruments and institutions," read a statement from the EU Council and Commission heads on Monday.

German Chancellor Angela Merkel recommended with the ESM, in this crisis, and also praised the European Central Bank (ECB) for the launch of the €750bn in bond purchases to calm the markets for government bonds.

A dramatic loss of confidence in the southern European state bonds, in particular, of Greece has accused The Euro -Zone crisis in 2010, and led to several rescue actions with enormous cost to the taxpayer.

germany, coronavirus pandemic, eurozone, european union, spain

Source of news: bbc.com