As leaders prepare for #Eurogroup meeting, the opening positions appear to be:
Germany and NL prepared to use (perhaps enlarged) ESM, and create a joint emergency fund for immediate use.
While Italy demands: Eurobonds or bust!
France sits somewhere in the middle.
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Germany and NL prepared to use (perhaps enlarged) ESM, and create a joint emergency fund for immediate use.
While Italy demands: Eurobonds or bust!
France sits somewhere in the middle.
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Commentators like @fromTGA and @zingales say the EU must show its worth, saying solidarity is essential and must be unequivocal.
While smart economists like @COdendahl
@FerdiGiugliano and others draw up proposals that sit between German/NL and Italian positions.
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While smart economists like @COdendahl
@FerdiGiugliano and others draw up proposals that sit between German/NL and Italian positions.
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And @jaemmanouilidis is probably right. We cd see an outcome that is more than ESM, but less than Eurobonds, and includes EIB. With ECB sprinkled on top. Or even a limited solidarity instrument that looks like Corona-bonds but has a different name.
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