Europe’s fractured union came under new pressure this weekend, as Italy and Spain pleaded for urgent European help to withstand the virus ordeal but Germany showed reluctance to plunge into any radical new solutions.
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The north-south divide that has dogged the European Union for years has resurfaced as the virus has galloped across the continent, claiming more deaths than any other region in the world. “Europe must provide a united social and economic response. We must have evidence that Europe listens and that Europe takes action.”
Spain and Italy alone account for more than half of the world's death toll, with hundreds of new victims every day. This time, Spain, Italy, France and six other EU members have asked the union to share the burden of European debt, dubbed “coronabonds,” to help fight the virus. But the idea has met resistance.
But Germany is not alone in urging caution. The Netherlands, Finland and Auave similar reservations about unleashing new aid that would have long-term impact on Europe’s collective finances. Some want to save money in case the crisis gets even worse, and fear a system where frugal northerners eternally subsidize debt-laden southerners.
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