Meeting in ‘extended Eurogroup’ format, the Finance Ministers of the European Union put the finishing touches, on Friday 15 May, to two of the three safety nets approved by the European Council to deal with the economic crisis caused by Covid-19 (see EUROPE B12487A4, B12465A2). The question of the Pan-European Guarantee of the European Investment Bank remains to be decided.
“We have been busy making good on our promise to add a new line of defence of up to €540 billion”,...