Macron warns of EU unravelling unless it embraces financial solidarity | Financial Times

Member states have ‘no choice’ but to set up joint virus recovery fund... warned of the collapse of the EU as a “political project” unless it supports stricken economies such as Italy... a fund that “could issue common debt with a common guarantee” to finance member states according to their needs rather than the size of their economies... If we can’t ... populists will win... in Italy, in Spain, perhaps in France ...

Germany, the Netherlands and other northern member states strongly resist mutualising debt... failure to agree ... risk triggering the collapse of the eurozone...the European idea.”