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Exclusive: ECB asked eurozone ministers to consider a one-off issue of “coronabond”

US, WASHINGTON (ORDO NEWS) — European Central Bank chief Christine Lagarde during a video conference on Tuesday asked eurozone finance ministers to seriously consider a one-time issue of coronabond to help combat the impact of the coronavirus epidemic, two officials said.

ECB President Christine Lagarde at a press conference in Frankfurt am Main
File Reuters

“She said that we need to seriously think about this, in addition to using the tools of the European stabilization mechanism,” said the official who participated in the meeting.

The second official confirmed that Lagarde had put forward such an idea, but added that Germany, the Netherlands and a number of Nordic countries had long opposed the joint issuance of debt.

“She clearly said that this should be a“ one-time “release,” said the second official.

“There were objections from the familiar side, but also great support, not only from Club Med (southern countries),” he added.

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