Merkel: The Corona virus crisis is the biggest test for the European Union since its founding

German Chancellor Angela Merkel considered on Monday that the crisis of the new Corona virus is the largest test for the European Union since its establishment, stressing that Germany is "ready to contribute" to push the bloc forward.

"In my opinion ... the European Union is facing its biggest test since its foundation," the German chancellor told reporters before a conference of euro zone finance ministers aimed at preparing a bailout economy for the bloc.

"Everyone is affected equally, so it is in everyone's interest and Germany that a strong Europe emerges from this test," Merkel added.

Talks between European Union leaders on a possible aid package are facing the line-up of countries most affected by the virus, in the face of economically stronger countries.

Italy, France and Spain, the countries most affected by the virus in Europe, are demanding Germany, Austria and the Netherlands to agree to the issuance of Corona Bonds, a controversial mutual debt mechanism to help the bloc countries most affected by Covid-19 fund their efforts to stave off the devastating economic consequences of the epidemic.

But conservative leaders in the countries of the North of the continent fear that this will lead to the sharing of sovereign debt and that their citizens pay a bill that escapes the budgets of the countries of the South.

On Monday, Merkel reiterated her government's previous stance on activating the European Stability Mechanism to support the budgets of European countries, knowing that German Finance Minister Olf Schultz said on Friday "There will be no irrational terms as in the past. No troika will come to the countries to tell the governments what policy they should follow ".

The German chancellor told reporters on Monday that Europe should achieve "self-sufficiency" in the production of protective masks, considering that this is "one of the lessons learned from this pandemic."

"We need a certain percentage of self-sufficiency or at least a pillar of our own industry" in Germany or in other countries in the European Union.

 

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