Spain expects initial EU consensus on coronavirus aid at Thursday summit

The European Union (EU) council should reach an initial consensus on the common financial response to the coronavirus pandemic during its next summit on Thursday, Spanish Prime Minister Pedro Sanchez said. "I expect the European Council tomorrow will reach a first consensus because it is indispensable," Sanchez told parliament on Wednesday.

Spain has proposed the creation of a fund of up to 1.5 trillion euros ($1.63 trillion) financed by perpetual debt. Sanchez added he wants the Eurogroup short-term coronavirus economic package that was agreed upon on April 9 to be implemented by June 1.

($1 = 0.9206 euros)