Eurogroup Fails To Agree On Coronavirus Stimulus After Feud Erupts Between Italy And Netherlands

Three things are guaranteed in life: death, taxes and the Eurogroup failing to reach an agreement.

At exactly 2am ET, the EURUSD tumbled in a flashback to the dark eurozone sovereign debt crisis days of 2010-2015, when news broke that European Union finance ministers had failed to agree in all-night talks on more support for their coronavirus-hit economies.

Shortly after Eurogroup president Mario Centeno tweeted that he was suspending the discussions until Thursday: “after 16 hours of discussions, we came close to a deal but we are not there yet. I suspended the Eurogroup and continue tomorrow, Thursday. My goal remains: A strong EU safety net against fallout of COVID-19 to shield workers, firms and countries & commit to a sizeable recovery plan.”


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