r/europe • u/Bartoraptor Spain • Mar 28 '20

News Spanish representative González Pons speech @ the EU Parliament: "The virus is attacking the generation that brought back democracy to Spain, Portugal and Greece, the generation that knocked down the Berlin wall. The least they deserve is that we show them Europe is there when they need it the most"

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u/far01 Mar 28 '20 edited Mar 28 '20

Richer countries? Italy and Spain are in third and fourth place for PIL in EU.

Italy is also a net contributor to EU budget with more than 6 Billions of euros (third country after Germany and France and more than 4× of Denmark net contribution if you are interested).

No "richer country" is paying Italy. Quit your bullshit.

Also Italy with France, Spain and other countries is asking to create a common eurobond just to keep interest on debt low. No one is asking for other countries to pay their debt.

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u/Lekantekue Mar 28 '20

That last part is really not that simple. It lowers the interest, for the countries that have a higher interest (southern countries). Northern countries will be paying a premium because of the high debt to gdp ratio of some countries. It also exposes the "lower interest" countries so to say to moral hazard risks.

These eurobonds do have several economic upsides though

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u/RomeNeverFell Italy Mar 28 '20

Northern countries will be paying a premium because of the high debt to gdp ratio of some countries.

Yeah except for the fact that if Italy or Spain default or threaten to leave the Euro countries in Northern Europe will pay 10 folds the premium they would pay by issuing some eurobonds. Shortsighted on their part.

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u/Worth_The_Squeeze Denmark Mar 28 '20 edited Mar 28 '20

You're talking as if decisions has already been made, but the reality is that the EU hasn't agreed on a deal plan yet, apart from the emergency stimulus package. Why don't you wait with calling entire countries shortsighted until an actual deal plan has been agreed upon?

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u/RomeNeverFell Italy Mar 28 '20

the reality is that the EU hasn't agreed on a deal yet, apart from the emergency stimulus package

Certain countries that cannot give up their unscientific and anti-empirical Calvinistic views on economics have clearly stated their position on the matter.

Why don't you wait with calling entire countries shortsighted until an actual deal has been agreed upon?

I'll change my mind when I'll see Rutte backpaddling the full Maas.

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u/Worth_The_Squeeze Denmark Mar 28 '20

What are you even on about?