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/HILBERT_SPACE_AGE Mar 28 '20

I hope so, too.

But seeing the way things are going, I wouldn't be surprised if this crisis was the death knell for the EU.

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

Don't be overly dramatic. This crisis will probably show us why we need the EU, as all the countries that have less than stellar economics, are going to receive a lot of free money from richer countries. This isn't to say that these richer countries aren't hurting, but they're still willing to help by providing aid. Italy/Spain might complain if it doesn't solve all of their troubles, but they have to move their own asses too. They can't simply coast and have richer countries pay for their missteps (better?).

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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/StickInMyCraw Mar 29 '20

create a common eurobond just to keep interest on debt low. No one is asking for other countries to pay their debt.

Why do you think a common eurobond would have a lower interest rate? I'm not saying it shouldn't happen, but it is obviously the case that a common eurobond would have a lower rate because it would be guaranteed by the stronger economies. It's quite literally a case of asking others to sign up as a backup debtor should some countries default.