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EU finance ministers take urgent action to face the economic crisis caused by Covid-19 pandemic

The situation is urgent and a full economic depression is looming in the horizon. EU finance ministers advanced their April 23 projected meeting and met this Thursday to agree on a rescue plan for Europe's hardest-hit nations. Christine Lagarde, the head of the European Central Bank, said it was "vital" that ministers hatch a plan big enough to meet the challenge.

EU ministers make breakthrough on coronavirus economic response 

  • Finance ministers of eurozone countries reached an "excellent accord" on fighting the pandemic-triggered recession. Europe has proven itself to be "a match" for the crisis, said French representative Bruno La Maire.

April 10.– After hours of talks on Thursday, representatives of 19 eurozone countries agreed to make €500 billion ($547 billion) available “immediately” to stimulate the EU economy as it struggles with the economic fallout of the ongoing pandemic.

“Excellent accord between the European finance ministers,” tweeted France’s Bruno La Maire.

EU heavyweights France and Germany had been working on a solution to address economic consequences of the coronavirus pandemic, with EU finance ministers negotiating into Thursday evening.

Germany’s Finance Minister Olaf Scholz praised the decision as a “great day of European solidarity.” He said that the plan provides “three strong answers” to the crisis ...

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