The European Commission is 'working on new financing instruments' to fight the 'unprecedented' coronavirus pandemic.
The toolbox includes loans from the financial-crisis-era European Stability Mechanism , but without the tough economic and fiscal reform conditions normally involved.
While the focus so far has been on footing the health bill for the virus pandemic and shielding businesses and workers from the financial fallout, politicians are already eyeing the day after the crisis. The idea of a coronavirus recovery fund has been brought up by many leading EU figures, with French Finance Minister Bruno Le Maire proposing 500 billion euros.
The commission is"working on new financing instruments" beyond national contributions that usually flow into the EU's 7-year budgets, Dombrovskis told"We could finance the reconstruction fund with bonds backed by a guarantee from the member states.
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