Eurogroup shelves ‘corona bonds’ in favour of ESM credit lines

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Eurogroup shelves ‘corona bonds’ in favour of ESM credit lines

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Flags of Europe or European Flag is the symbol of Council of Europe CoE and The European Union EU as seen in the Belgian capital Brussels in front of modern architecture high buildings with glass and steel construction the Le Berlaymont building, European Commission headquarters. The flag was designed by Arsène Heitz and Paul M. G. Lévy. Brussels, Belgium - February 20, 2020 (Photo by Nicolas Economou/NurPhoto) | Nicolas Economou/NurPhoto/PA Images

The Eurogroup made no progress towards creating a common EU debt instrument on Tuesday night, but member states will be able to fund their responses to the coronavirus crisis through a new credit line with the European Stability Mechanism.

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