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Merkel says Germany opposes 'coronabonds' in virus crisis

AFP  |  Berlin 

Germany remains opposed to the idea of so-called "corona bonds" that would pool the debt of the 19 eurozone countries in response to the coronavirus crisis, Chancellor Angela Merkel said Thursday.

Speaking after a video conference with other EU leaders, Merkel rejected the proposal backed by France and Italy.

"From the German side and from other sides, we said that this was not the view of all member states," Merkel said, adding that the existing European Stability Mechanism was her "preferred instrument".

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 27 2020. 04:43 IST