EU warning: Coronavirus ultimate ‘nail in coffin’ to accelerate total collapse of union

The warning comes from Max Kaye, economic analyst at Global Data, who told that the European Union’s response to the coronavirus crisis has shown the eurozone fails to provide quick action when needed. Mr Kaye argued he does not envisage a political breakdown of the bloc immediately as the aftermath of the coronavirus crisis unravels, but warned this could be the ultimate nail in the coffin for Brussels. He said: “It’s not going to be overnight that the eurozone just breaks down because coronavirus has happened. But I think going forward this could serve as a seed for Italy for example being the first one to ask ‘where was that eurozone response when people were dying in hospital?’

“Where was that response when they really needed that financial aid?

“Does that show the failure to some extent of the eurozone in having to have to buy in for all the 27 countries within the eurozone and in being able to give a quick response in situations like this where quick action is needed?”

He added: “It’s not going to be something that happens overnight, I don’t think the European Union over the next year is just going to disintegrate because of coronavirus.

“But I think what it would do is be another nail in the coffin.

“I don’t expect a political breakdown within the next 10 to 20 years at least.”

Share your lockdown experience with

We would love to hear how you are coping with the coronavirus lockdown. Please send a video update detailing your experiences to [email protected] and we will feature the best ones. Clips should be between .30secs – 1min30 long and can be filmed using a phone, tablet or desktop.


By sending a clip you consent to us using your video in perpetuity on and our social platforms.

“But I think that what this would do is to maybe quicken that process and it makes you realise that ultimately, everyone is in it for themselves,” he concluded.

It comes as Italian Prime Minister Giuseppe Conte warned the EU could see a real risk of collapsing unless a united stance on coronavirus will be agreed among the 27 leaders.

He told BBC: “It’s a big challenge to the existence of Europe and the history of Europe.

“We’re not just writing pages in the books of economics, we’re writing pages in history books.

“This is a big appointment with history and we cannot miss it.


“Myself and other European leaders need to rise to the challenge.

“There’s no doubt that if our response isn’t strong and unified if Europe fails to come up with a monetary and financial policy adequate for the biggest challenge since the Second World War, for sure, not only Italians but European citizens will be deeply disappointed.”

He added: ”If we do not seize the opportunity to put new life into the European project, the risk of failure is real.”

Mr Conte urged sticking with the rigid lockdown, rejecting calls from businesses to open factories, while France extended its lockdown past April 15, though the increase of hospital deaths appeared to be slowing again.

Italy PM sends stern warning to Brussels – ‘Real risk EU will fail’ [VIDEO]
Coronavirus map LIVE: UK lockdown faces LONG extension [LIVE BLOG]
EU warning: Bloc’s future ‘NOT looking good’ after leaders lock horns [POLL]

Disunity in the European Union EU finance ministers failed to agree on a joint response on more economic support for their countries, despite talks that stretched into the night on a 16-hour videoconference.

German Finance Minister Olaf Scholz said a deal on the package worth half a trillion euros was close, and he hoped it could be clinched when the ministers meet again from 1500 GMT.

Mauro Ferrari, president of the EU’s main science organisation, the European Research Council, has quit the post he took up in January, citing institutional resistance and bureaucratic infighting over his proposal for a big scientific programme to combat the coronavirus.

In a statement, the ERC said it regretted Ferrari’s comments on his resignation, adding they were “at best, economical with the truth”.

Source: Read Full Article