Merkel again rejects ‘coronabonds’ ahead of EU leaders’ conference

German Chancellor Angela Merkel doubled down on her country’s rejection of joint European Union (EU) debt issuance, or “coronabonds,” in comments to lawmakers in Berlin ahead of an EU leaders’ video summit.

She argued that were was no time for such a measure, adding that each EU member state would have to get parliamentary approval for transferring an element of budgetary sovereignty to the bloc.

“This would be a time-consuming and difficult process and not one that could directly help in the current situation.

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“It is now about helping swiftly and getting hold of quick instruments that ease the fallout of the crisis,” she said.