German govt open to activating ESM to tackle coronavirus - Der Spiegel

Germany is open to using the European Stability Mechanism to prop up economies hit by the coronavirus under certain circumstances, Der Spiegel magazine reported on Wednesday.

The magazine quoted from a government reply to a question from a legislator from the Greens party, in which the government said: "In case of need, the government would be prepared to participate constructively, so long as it was consistent with the ESM treaty and European Union law."

Italy, the country so far most severely hit by the coronavirus epidemic, has called for the bailout fund to be activated.