Eurogroup meeting of 16 March 2020: suspension of ratification of the European Solidarity Mechanism – Covid-19 health emergency
12.3.2020
Priority question for written answer P-001588/2020
to the Council
Rule 138
Gianantonio Da Re (ID)
On 16 March 202, the Eurogroup will convene to approve, as the first item on the agenda, the final text for the European Solidarity Mechanism (ESM), while the health emergency caused by the spread of the Covid-19 virus will only be discussed as item 3.
Under the provisions of the ESM system, a Member State requesting economic assistance will be required as a preventive measure to restructure its debt if that debt is deemed to be unsustainable. That means that debt restructuring would become a precondition for obtaining financing.
The spread of Covid-19 and the large numbers of people it has affected has triggered a major increase in expenditure, especially in the field of health, and occasioned serious economic losses in the Member States.
Does the Council not feel, therefore:
- 1.That ratification of the EMS should be suspended, since Europe will never be the same again following this health emergency and preventive health costs will be priority and far exceed all previous estimates?
- 2.That immediate economic measures should be adopted in support of Member States affected by the health emergency?