Merkel says Germany opposes 'coronabonds' in virus crisis

[BERLIN] Germany remains opposed to the idea of so-called "corona bonds" that would pool the debt of the 19 eurozone countries in response to the coronavirus crisis, Chancellor Angela Merkel said on Thursday.

Speaking after a video conference with other EU leaders, Dr Merkel rejected the proposal backed by France and Italy.

"From the German side and from other sides, we said that this was not the view of all member states," Dr Merkel said, adding that the existing European Stability Mechanism was her "preferred instrument".

AFP