The 27 EU leaders decided to offer the eurozone finance ministers two weeks to find a common economic response to the coronavirus crisis, European diplomats said. After more than six hours of discussion by video-conference, the heads of state and government of the 27 EU countries have reached agreement on a draft joint declaration to tackle the crisis caused by the coronavirus.

“We take note of the progress made by the Eurogroup. At this stage, we invite the Eurogroup to present proposals to us within two weeks. These proposals should take into account the unprecedented nature of the COVID-19 shock affecting all our countries and our response will be stepped up, as necessary, with further action in an inclusive way, in light of developments, in order to deliver a comprehensive response” the declaration reads.

“The COVID-19 pandemic constitutes an unprecedented challenge for Europe and the whole world. It requires urgent, decisive, and comprehensive action at the EU, national, regional and local levels. We will do everything that is necessary to protect our citizens and overcome the crisis, while preserving our European values and way of life.

“We recognise the burden these measures put on all our citizens and praise their sense of responsibility. We express our deepest sympathy with the victims of the pandemic and their families. We commend the dedication and tireless efforts of the healthcare professionals at the forefront of the outbreak and the contribution of those who provide essential services to the population.

“We will cooperate with the international community and our external partners in combating the global pandemic.

“We will continue to work along the five strands defined at our videoconferences on 10 and 17 March 2020 and do what is necessary to overcome the crisis.”

Italian Prime Minister Giuseppe Conte did not accept the draft conclusion at a video conference Summit of EU27 to find a common economic response to the coronavirus pandemic, according to Italian government sources. Italy wants the European Union to acquire “innovative financial instruments that are truly adapted to war”, according to the Italian agency Agi, which quotes the entourage of the Prime Minister. In this response to the economic catastrophe that threatens the EU, the proponents of greater financial solidarity, the countries of the south, less virtuous in budgetary matters, and those of the north, confront each other.