Bavarias Prime Minister Markus SOder (CSU) has called for a “Marshall Plan for the whole of Europe” to get the economy going again after the Corona crisis has been overcome. “We have to rebuild the economy together in all European countries,” SOder told the “Handelsblatt”. However, he again rejected common European bonds, so-called Eurobonds.
“Of course, European solidarity is needed,” said the Prime Minister. This is also in the German interest, because “we can not disconnect”. It will be about whether Europe can economically maintain its place in the world.
“There cannot be corona bonds in the sense of a European debt pooling,” SOder said. Instead, existing aid instruments such as the ESM Euro Rescue Fund should be used “to help quickly and powerfully”. In contrast to the financial crisis, strict reform requirements for affected countries should be avoided this time.
The CDU foreign policy politician Norbert ROttgen, however, warned against endangering the EU as a whole through a policy dispute over Eurobonds. “Making a controversial tool for the EU’s credibility test, as Italy is currently doing – is not smart political behavior,” he warned. But the “categorical no from other European countries is also not conducive to European cohesion,” ROttgen continued to tell the “Handelsblatt”.
Instead of “absolutism” on this issue, ROttgen pushed for “a reasonable, pragmatic discussion about European solidarity in and after the crisis”. Proponents of Eurobonds argue that financially weak countries could get cheaper loans from such joint bonds than if they had to borrow them on their own.
bk / noe
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