In order to respond to the shocks that the COVID-19 pandemic is putting on the European economy, the Finance Ministers of the euro area Member States must re-examine the European Commission's proposal to create a market for sovereign bond-backed securities (SBBS) (see EUROPE B12026A3), the President of the European Parliament's Renew Europe group, Dacian Cioloş (Romania), said on Thursday 19 March.
The SBBS would give Member States the possibility “to invest money to safeguard jobs and...