Mário Centeno

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Italy fights have stopped with huge debts, because in front of the coronavirus-crisis

the EU calls for the support of the southern countries of the Eurozone affected by the Corona-Virus-epidemic-after 16 hours.

The European Central Bank says that the Block can be up to 1, -€. 5tn ($1. 6 Trillion ; £1. 3tn) to deal with The Crisis .

" European finance Ministers were close to a deal, but The Talks broke down in the middle of a dispute between Italy and the Netherlands , as The Recovery fund.

the negotiations continued on Thursday.

The Corona-Virus-pandemic exposed the deep divisions in Europe, where Italy and Spain have accused the Northern Nations led by Germany and the Netherlands - to do not enough.

the European Commission First Vice President Frans Timmermans criticized the Dutch response, warning that "the EU as we know it, it will not survive," if The Split More .

"All must appreciate now, The Need for solidarity", the former Dutch minister De Volkskrant wrote pleading for "new instruments... [to] that in Europe The Strongest shoulders the heaviest burden to bear ".

the Spanish Prime Minister , Pedro Sánchez, has in a similar way, the Block could fall "apart, and warned," if a solution cannot be found.

The range comes.

The European working group of the Scientific Council, later said that its members had "unanimously" for his resignation called about Two Weeks ago, claiming that Prof Ferrari had not participated in important meetings, and spent far too much Time In the United States.

Why did break up the EU talks?

Italy, Spain, France and some other EU countries want to share coronavirus-incurred debt in the form of "corona bonds" (or "eurobonds") - have the possibility of mutual debt, the States help all of the EU-to pay off.

An all-night teleconference between Euro-to discuss Finance Ministers started on Tuesday and went for 16 hours, but Italy refused, again, to your requirements.

The Netherlands rejected The Proposal , and wants the member States, the terms of repayment gradually over The Years .

now, a draft of what was agreed, stating that "innovative financial agreements" must be used.

The Assembly is the Chairman, of the said Portuguese Finance Minister , Mario Centeno , that he had suspended The Talks until Thursday, but a strong safety net against the impact of The Virus was still working.

the German and French Finance Ministers called on colleagues to continue to search for a solution.

The Bbc 's Gavin Lee , in Brussels says that, in essence, the question is one of confidence about the question of whether Italy and Spain, pay back, eventually, to what has been borrowed, so that other countries are not financially exposed to.

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

The Dutch and their allies want to be known an existing rescue Fund, the European stability mechanism (ESM).

"Because of the current crisis, we need to make an exception, and the ESM can be used to cover unconditionally, and medical costs," said the Dutch Finance Minister Wopke Hoekstra . "For the long-term economic support that we think it is useful to combine the use of the ESM with certain economic conditions. "

Italy's agony

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

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 the use of mechanisms 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.

germany, coronavirus pandemic, eurozone, european union, spain

Source of news: bbc.com