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Austria says EU deal should not be a back door to coronabonds

FILE PHOTO: Austrian Finance Minister Gernot Bluemel attends a news conference in Vienna, Austria, March 26, 2020. Georg Hochmuth/Pool via REUTERS

VIENNA (Reuters) - A deal struck by European Union finance ministers on Thursday evening should not lead to the introduction of coronabonds through the back door, fiscal hawk Austria’s Finance Minister Gernot Bluemel said in a statement.

“For us it was and is important that the current crisis not serve as a back door for a mutualisation of debt through euro bonds. With this agreement the countries affected can be helped in a targeted way without damaging the euro area’s stability in the long term,” he said.

Reporting by Francois Murphy