Intense negotiations are to take place this weekend, in preparation for the Eurogroup scheduled for Tuesday evening. If this (remote) meeting of the finance ministers of the euro zone fails, as two weeks ago, to produce concrete progress on economic cooperation in the face of the coronavirus, the signal would be interpreted very negatively by the financial markets.
Bruno Le Maire exchanged Friday evening by phone with several of his counterparts. He pushed his solution to an exceptional European fund, endowed with a common borrowing capacity. Several other countries have also circulated informal proposals. The Italian Giuseppe Conte, tireless promoter of coronabonds, has renamed them “European recovery bonds” (European bonds for reconstruction).
According to him, a tool that “To make full use of the true firepower of the European family” to give birth “To a common and shared program of support and revival of our