Crisis among the EU LEaders over Corona Bonds, the end of German despotism

The University Times

A Huge Crisis was detected among the EU leaders during yesterday’s EU Teleconference Summit leading in the clear creation of 2  camps. One Camp with leader the German Chancellor Ms Angela Merkel and the second Camp with leader the Greek Prime Minister Mr Kyriakos Mitsotakis who seems to become the Leader Eu was missing.

The dispute is over the creation of Euro Bonds named Corona bonds that a large number of countries that were violently hit by the Coronavirus asking to be issued in order to manage to control if not prevent the economic crisis that is coming. The European Leaders with first to be Italy’s Prime minister Mr Conte and Mr Macron have exercised a veto for a common announcement yesterday if the European Union does not proceed in creating corona bonds.

The fiasco was only avoided last minute after the intervention of the President of European Commission Charles Michel who proposed to both sides another summit in two weeks after the Ministers of Economics of the Eu countries come up with a concrete plan.

Germany with the countries of the North such as the Netherlands, Lithuania, Sweden and so on have denied the creation of Eurobonds asking countries that were hit by the Coronavirus to receive loans after accepting an MOU form the ESM as Greece did 10 years ago.

Conte became furious showing to Ms Merkel that the Geman imperiousness is coming to an end. Mr Conte did not forget to mention that the Eu countries including Germany and France did not support Italy with Medicine and Medical machinery that was necessary to fight Coronavirus leading in thousands of deaths.

The dispute this time seems to be extremely tensed and it will be overcome only with the creation of Corona bonds or we might see the end European Union. The countries that have seen over the past years Germany to point the finger at them told yesterday MS Merkel “No More”. European Union is no just Numbers but it is People and that was the message from the Greek Prime minister Mr Kyriakops Mitsotakis which seems to be doing better than anybody else in fighting the Coronavirus undoubtedly.

Ms Christine Langarde President of the ECB has only recently spoked to Bloomberg strongly advising for the immediate issuance of Eurobonds as way to take drastic measures to avoid another deep recession in the Eurozone but Netherlands and  Germany pretend not to hear the message.

Pedro Sanchez the Prime minister of Spain strongly supported the Side of Greece, Italy, and France asking EU to immediately take drastic economic measures to avoid a humanitarian crisis. Tens of thousands of jobs have already been lost around EU and this is only the beginning according to  Phd. Dr. Tsiodras expert in epidemiology.

The countries asking for the common EU bonds are not willing to step back at all and demand to take EU a step forward towards making it a real Union rather than a group of countries being led by Germany for the benefit of Germany.

Will this be the end of German Leadership or the End of Eu ? Stay tuned

The University Times

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