Centre news
19.03.20

Der Standart - European Central Bank provides billions in Corona crisis

In the Corona crisis Lucas Guttenberg proposes to allow financial aid without conditions. The euro central bank seems to have taken a first step in this direction.

The Corona crisis has exposed flaws in the construction of the eurozone: Italy is urged to spend money that it doesn't have. Currently, it is intended that a cash infusion by the EU can only be approved if the state concerned submits to conditions imposed by the other euro countries. Economists such as Lucas Guttenberg criticised that this would take too long to provide money in an urgent emergency crisis. Guttenberg proposes to allow aid without conditions. The European Central Bank needs to plug holes during the Corona crises.

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Image: CC Kalhh, Source: Pixabay