EU finance ministers divided over crises measures

epa08314714 A man wearing a mask at Schuman square in front of European Commission in Brussels, Belgium, 23 March 2020. In order to contain the spread of coronavirus, Belgium is implementing confinement guidelines for the public which is scheduled to be in place until 05 April 2020. Only supermarkets and essential trade will remain open. Countries around the world are taking increased measures to stem the further spread of the SARS-CoV-2 coronavirus which causes the Covid-19 disease. EPA-EFE/OLIVIER HOSLET

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EU finance ministers argued over crisis measures to help European countries withstand the economic shock of the coronavirus outbreak Tuesday, with powerful Germany cautious about rewriting the rulebook, reports Euronews and AFP.

The Portuguese Prime Minister António Costa said the economic impact of the coronavirus pandemic will be a “tsunami” and “there are no buoys that can save us from a tsunami.” He also called for an EU plan to fight what could be a complete devastation of the economy, POLITICO reports.

“Call it the Marshall Plan or von der Leyen [plan], whatever you want. But Europe must have a major economic recovery project,” Costa said in an interview with Broadcaster TVI Monday evening.

“It is not worth creating the illusion to people that we are going to go through this process without pain,” he said, adding that the effects would be felt over time.

Via Euronews / AFP / POLITICO 

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