Coronavirus could lead to breakup of Eurozone, EuroGroup head Centeno warns

1 April 2020
160 Views

The Finance Minister of Portugal and EuroGroup President Mario Centeno warned the 19 Eurozone Finance Ministers in letter that the impact of the coronavirus pandemic could result in the the Eurozone.

According to the French News Agency, which became aware of the letter on Tuesday, Centeno underlined: “We will inevitably come out of the crisis with a much higher level of debt”, adding “However, this effect and its lasting effects should not be a cause for fragmentation.”

In his letter, Centeno asked ministers to come up with proposals to deal with the risk of debt overhang, in a sign that the debate over issues such as joint debt issuance via so-called coronabonds would be on the table at their next discussion

“We should explore ways to put existing instruments to use, but should be open to consider alternatives, where the former turn out to be inadequate,” wrote Centeno.

You may be interested

Mitsotakis to Bild newspaper: “We will open tourism to countries with similar epidemiological data as Greece”
GREECE
shares26 views
GREECE
shares26 views

Mitsotakis to Bild newspaper: “We will open tourism to countries with similar epidemiological data as Greece”

makis - May 26, 2020

The safe comeback of tourism flows in Greece and economic recovery from the coronavirus pandemic were the focal point of…

5 Greek “Caribbean” beaches that are heaven on earth
GREECE
shares42 views
GREECE
shares42 views

5 Greek “Caribbean” beaches that are heaven on earth

Panos - May 26, 2020

The Caribbean may be famous for its crystal clear waters, but Greece can easily compare with its own exotic beaches…

German bookings on the rise as Greece opens up
GREECE
shares42 views
GREECE
shares42 views

German bookings on the rise as Greece opens up

Panos - May 26, 2020

A significant increase in bookings for Greece, the Balearic Islands and Portugal has been recorded recently by German travel companies,…

Leave a Comment

Your email address will not be published.