Economics
Europe’s Door to Joint Debt Cracks Open as Germany Softens
- Merkel doesn’t rule out considering proposal by Italy’s Conte
- EU agrees to close external borders as stimulus ramped up
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Angela Merkel signaled she may be open to joint European Union debt issuance to help offset the impact of the coronavirus, an apparent softening of entrenched German opposition that could transform the finances of the 27-nation bloc.
The unexpected opening from the leader of Europe’s dominant economy came after the chancellor and her EU counterparts agreed by video conference to restrict most travel into the continent in an unprecedented move aimed at slowing down the spread of the virus and mitigating its effects.