ITALY’S Prime Minister Giuseppe Conte has expressed his strong concern that the European Union might collapse as a project unless it acts decisively to help countries worst-hit by the coronavirus outbreak.
Italy, along with Spain, has been pushing for a co-ordinated economic response from the EU by allowing counties to share debt, but the proposal has been opposed by Germany and The Netherlands.
Speaking to the BBC, Mr Conte said the scale of the problem should not be underestimated.
“If we do not seize the opportunity to put new life into the European project, the risk of failure is real.”
EU finance ministers failed to agree on a bailout plan to help hard hit member states face the coronavirus outbreak.
Despite efforts, they were unable to bridge differences on how to rebuild their economies after the coronavirus, with a north versus south split on burden-sharing for the worst affected countries, especially Italy and Spain.
The European Union has already relaxed curbs on state aid and public spending to help countries through the economic slump caused by the Covid-19 crisis.
EU leaders have given their governments until Easter to come up with a list of further possible measures.