Letter from Martin Schulz MdB to New Europeans about European solidarity and corona bonds

Martin Schulz MdB
Martin Schulz MdB

New Europeans wrote to Martin Schulz MdB on 20 April to support the call by Andrea Pisauro, Gian Giacomo Migone and over 700 personalities from politics, universities and campaign groups across Europe for Eurobonds as a way to finance solidarity measures in Europe in response to the coronavirus crisis.

Read Andrea Pisauro's letter

We are delighted to publish the very supportive reply we have received from Mr Schulz.

Dear Roger,

I have been made aware about your initiative and the letter from New Europeans.

I would like to use this opportunity to express my strong support for your dedication to Europe and the honest words you find to describe the need for more European solidarity. 

In my eyes, the current seemingly irreconcilable opinions regarding the matter of Corona-bonds are a cause for major concern and I myself have made clear in many articles and interviews that Europe does not need symbolic and dogmatic debates, it needs solidarity.

I myself have been calling for Eurobonds over the last ten years and agree that at least Coronabonds would be appropriate in the current situation.

Nevertheless, we need an immediate response to help Italy and other southern European countries.

The rejection of Eurobonds by several Eurozone states is based on dogmatic and ideological grounds and we will have to deal with this situation for the time being and we have to find solutions that we can implement very fast.

Italy has been hit by this crisis through no fault of its own. It is our duty as Europeans to support each other.

Furthermore, it is no act of charity, but a consequence of solid economic reasoning.

The European nations, particularly those in the Eurozone, are inseparably linked and the collapse of a G7 country like Italy would have catastrophic consequences for all of us. 

This is why I consider the European rescue package via ECB, ESM and other institutions the right and important measure under these circumstances.

It will provide immediate and unconditional support.

What we need beyond this is a courageous and far-reaching dialogue among us Europeans to emphasize the need to work together to overcome the crisis.

Your solidarity initiative is a great measure to achieve this dialogue and to make people understand why we need a stronger European Union.

Thank you so much for your dedication.

Yours sincerely

Martin Schulz


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