Eurogroup chief calls for adequate discussion on 'coronabonds' - paper
MILAN (Reuters) - Euro zone finance ministers must have an open discussion on so- called 'coronabonds' as a tool to combat the economic fallout of the coronavirus outbreak that is pitching Europe into its toughest recession in 70 years, their chairman Mario Centeno said.
Centeno told Italian daily La Repubblica that finance ministers must not be prejudiced against the concept of a common EU bond without an adequate discussion.
"I want an open and up-to-the-issue discussion," he said in an interview published on Saturday, before a meeting of euro zone finance minister scheduled for Tuesday to discuss the European response to the economic crisis triggered by the virus.
Centeno is finance minister of Portugal, one of the nine euro zone countries which signed a letter calling for coronabonds. But his role as Eurogroup chief also gives him the power to shape the agenda of the group's meetings.
Other EU countries like Germany oppose mutualising euro zone debt through the issuance of a joint coronabond and see the ESM rescue fund as a more appropriate tool.
"As Eurogroup's chairman I aim to forge a consensus, but I am not a passive voice: I'll always push for more integration," he said.
(Reporting by Giulio Piovaccari, Editing by Christina Fincher)
