March 26, 2020 / 2:41 PM / 5 days ago

Austria rejects euro bonds -chancellor

VIENNA, March 26 (Reuters) - Austria’s chancellor on Thursday dismissed calls to introduce jointly issued debt, also known as euro bonds, as a way to finance measures to counter the economic impact of the coronavirus pandemic.

Italian Prime Minister Giuseppe Conte had called for special “coronavirus bonds”, or a European guarantee fund, to help EU states finance health spending and economic rescue programmes.

“I think it is important to provide help quickly in Europe for all who are in need of support. There are very good instruments like the ESM,” Sebastian Kurz told a news conference, referring to the euro zone’s bailout fund, the European Stability Mechanism.

“We reject a general communitarization of debts. This is an old system that has not been accepted in the past.” (Reporting by Kirsti Knolle, editing by Thomas Escritt)

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