After 16 hours of talks, European finance ministers have failed to agree on a bailout plan for member states hardest hit by COVID-19. Germany, the Netherlands and other wealthier countries are resisting a "corona bonds" proposal put forward by Italy and Spain. Both had proposed a solidarity fund that would be paid for by European partners -- jointly borrowing money on the financial markets. But Berlin and its allies have insisted that any European rescue should use the eurozone's $443 billion bailout fund. Discussions will resume on April 9.
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