FRANKFURT (Reuters) – European countries need to join forces to protect their banks from the coronavirus outbreak, among the bloc’s top regulators stated on Monday, possibly using a 500 billion euro ($545 billion) EU healing fund to do so.
FILE PHOTO: Spanish Economy Secretary Jose Manuel Campa speaks throughout an interview with Reuters at Madrid’s Economy Ministry February 17,2010 REUTERS/Juan Medina/File Picture
The remarks from Jose Manuel Campa, who leads the European Banking Authority (EBA), will revive a divisive debate about whether rich countries such as Germany ought to support banks of poorer neighbours such as Italy.
Campa made his remarks days after German Chancellor Angela Merkel and French President Emmanuel Macron proposed an EU healing fund to help the bloc’s worst-hit members to rebuild their economies after the coronavirus break out.
” It would make sense to have a European technique to support banks,” Campa t