EUCO: Letter to the European Council on Eurobonds & ESM

Ahead of today's European Council summit, the Greens/EFA Members of the Economic and Monetary Affairs Committee are calling for economic measures, based on solidarity to tackle the COVID-19 crisis, in a letter to the European leaders.
 

Sven Giegold MEP, financial and economic policy spokesperson of the Greens/EFA group, comments:

“In light of this unprecedented economic downturn, EU leaders must come up with a bold common fiscal response today. It is the same virus hitting all member states and people, therefore we must not fall back into old divisions and avoid austerity measures. Now is the time for European solidarity.

"A common Eurobond would be the best way to funding a genuinely European response to this severe crisis. Such a sharing of risks requires at the same time a bold step forward towards a common democratic governance of the Eurozone.”

Ernest Urtasun MEP, Vice-President of the Greens/EFA group and Member of the Economic and Monetary Affairs Committee, comments:

“The EU leaders must send a clear message they will support every citizen within the European Union and the European economy as a whole. At this stage, the most powerful message of political unity and economic response is the creation of Eurobonds.

"These common bonds should aim at financing the national health system in the short-term, but must also answer to the support to the European economy to recover from the coming vast and severe crisis. We can make full use of the 410 billion EUR available as ESM, and even increase this amount, to give support to unemployed people and companies from all over the EU and minimize the job losses and economic downturn.”

Letter to European leaders, click here.