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Merkel Says Germany Rejects Eurozone 'Coronabonds'

© REUTERS / Michel KappelerGerman Chancellor Angela Merkel
German Chancellor Angela Merkel - Sputnik International
According to the German Chancellor, eurozone bonds are not the only measure to cope with the economic damage caused by the pandemic.

German Chancellor Angela Merkel said that her country rejects Italy's demands for common eurozone bonds.

"I spoke today with Italian Prime Minister Giuseppe Conte for a long time and we agree that there is an urgent need for solidarity in Europe, which is going through one of its most difficult hours, if not the most difficult. And Germany is ready for this solidarity and committed to it. Germany's wellbeing depends on Europe being well. Now, which instruments are fit for this purpose, here there are different views. You know that I don't believe we should have common debt because of the situation of our political union and that's why we reject this," she added during a news conference.

"But there are so many ways to show solidarity and I believe we will find a good solution," Merkel added. 

The issue of "coronabonds" has been a stumbling block in relations between EU member states as not all of them welcome the idea of a shared debt burden during the pandemic-linked crisis. While France and Italy support the idea, Germany remains reluctant.  

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