Nine EU countries called for a common debt instrument against the economic impact of the novel coronavirus outbreak.

The leaders of Belgium, France, Italy, Luxembourg, Spain, Portugal, Greece, Slovenia and Ireland addressed Charles Michel, the president of the European Council, in a joint letter.

EU heads of state and government will hold a video conference on Thursday to discuss further measures to tackle the health and economic crisis.

“We are all facing a symmetric external shock, for which no country bears responsibility, but whose negative consequences are endured by all,” the nine leaders explained the reason why they asked

Read more: Nine EU leaders call for new eurobonds amid pandemic