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Macron warns populists could win if EU fails to launch common fund: FT

French President Emmanuel Macron attends a videoconference with French virologist Francoise Barre-Sinoussi (unseen) on ongoing efforts to accelerate the development and access to vaccine and treatment against the coronavirus, following an outbreak of the coronavirus disease (COVID-19), at the Elysee Palace in Paris, France, April 16, 2020. Yoan Valat/Pool via REUTERS

PARIS (Reuters) - Populists will win “in Italy, in Spain, perhaps in France and elsewhere” if European countries do not launch a rescue fund that can issue joint debt to cope with the fallout of the coronavirus epidemic, French President Emmanuel Macron told the Financial Times.

European countries have “no choice” but to set up a fund that “could issue common debt with a common guarantee”, he said.

Reporting by Michel Rose and Dominique Vidalon; Editing by Hugh Lawson