“A situation similar to that of a war. "The president of the Eurogroup, Mario Centeno, set the scene for the economic disaster that is afflicting Europe, just before a long meeting by videoconference of the 27 finance ministers of the European Union (the 19 of the eurozone and the other eight), Monday afternoon.
The stakes are enormous. For the euro zone, it is a question of demonstrating not only its capacity to organize itself to react in concert to this unprecedented challenge, but also to prove its viability. And show the panicked markets that the single currency will resist the risk of fragmentation between the countries best able to cope and the most fragile.
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The Union plans to release 1% of European GDP together, or around 150 billion euros over the year in budgetary measures. In addition, there is the equivalent of automatic stabilizers (social benefits, etc.), as well as 10% of GDP in tax and tax relief to relieve businesses' cash flow . It could
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