Why does WEALTHY EUROPE oppose CORONA BONDS? – VisualPolitik EN

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We don’t know what the world will be like after the SARS coronavirus 2 crisis. But there is one thing we can be sure of: we are heading for an economic recession. And that recession is going to force many countries to issue debt.

The European Central Bank has announced a 750 billion euro bailout fund to help the most troubled countries in the eurozone: mainly Spain and Italy. The problem is that this bailout fund comes with a high political cost. As happened after the 2008 crisis, Europe will demand austerity and, above all, transparency measures, which may jeopardize the stability of the current governments of Italy and Spain. They will most likely be forced to call new elections.

To avoid this, some propose the creation of mutualized debt bonds: the so-called Corona Bonds Are they really a good idea to get out of the Corona crisis? Or is it just an attempt to avoid political costs after mismanagement of the coronavirus crisis? In this video, we tell you all about it.

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Italy is a republic in central Europe which forms a peninsula in the Mediterranean Sea as well as bordering France, Switzerland, Austria and Slovenia. The islands of Sardinia and Sicily form part of the main territory of Italy. Italy is part of the Eurozone, having entered the common currency on 1st January 1999.

The capital, Rome, is home to the Vatican as well as landmark art and ancient ruins. Other major cities include Florence, with Renaissance masterpieces such as Michelangelo’s “David” and Brunelleschi’s Duomo; Venice, the city of canals; and Milan, Italy’s fashion capital.

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Spain, a country on Europe’s Iberian Peninsula, includes 17 autonomous regions with diverse geography and cultures. Capital city Madrid is home to the Royal Palace and Prado museum, housing works by European masters. Segovia has a medieval castle (the Alcázar) and an intact Roman aqueduct. Catalonia’s capital, Barcelona, is defined by Antoni Gaudí’s whimsical modernist landmarks like the Sagrada Família church. 

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