Europe could fall, Italy warns as divided EU seeks coronavirus rescue deal

[Counselor706]

BRUSSELS (Reuters) - The European Union faces an existential threat if it cannot come together to combat the coronavirus crisis, Italy said on Thursday as the divided bloc sought to salvage talks on a rescue package to aid battered economies.

A deal has so far proved elusive amid fraught discussions between the more fiscally conservative north and the indebted south, which has been hit hard by the pandemic and is pushing for unprecedented measures like issuing joint EU debt.

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[great lover]

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Europe has fallen many times in the past.
Vikings, Huns, Goths, Ottomans, Romans, Greeks, Mongols (So many times, just not in this order)

 

[colddiesel]

Italy's policy has been the same since the fall of the western Roman Empire. It is 'someone else picks up the tab' Always.

 

[oggbashan]

And a deal was reached...

 

[Counselor706]

French economist: EU risks ‘suicide’, could collapse over coronavirus

French economist Jean-Paul Fitoussi is the latest financial expert to sound the alarm that a lack of solidarity in dealing with the coronavirus pandemic could spell the end of the European Union (EU).

Professor Fitoussi said the EU must act to aid countries affected by coronavirus and create a Europe-wide investment plan. Otherwise, the bloc itself could face “a destiny of underdevelopment”, he warned.

In an interview with Italian news website Quotidiano that was released on Friday, he advised the EU to create “an investment plan in public goods, which are those from whose use, by definition, nobody can be excluded and which bring added value to all citizens”.

He went on to criticise the decision by several of the wealthier EU member-states to reject the so-called Eurobond proposal which would underwrite the debt of countries like Italy and Spain which have been hardest hit by the Wuhan virus.

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[hogjack]

Europe is a construct that never existed except to academics, egocentric mapmakers, and several annoying, outspoken mimes.