EU 'coronabonds' will create more problems than they solve: Netherlands


File photo

Issuing EU "coronabonds," controversial pooled debt instruments, will not help countries hardest hit by the pandemic and may create even more problems, Dutch Finance Minister Wopke Hoekstra said Wednesday.

Hoekstra said his country "was and remains against the idea... we think this will create more problems than solutions for the EU."

"We would have to guarantee debts of other countries which isn't reasonable," he said in a tweet, after a meeting of eurozone finance ministers failed to agree how to help struggling EU countries such as Italy get funding to cope with the massive coronavirus damage to their economies.