(Bloomberg) — Just over a week after Christine Lagarde stepped in to shield European Union governments from a market rout, they rejected her appeal to show more solidarity in the face of the coronavirus pandemic.

The European Central Bank president reiterated her appeal for joint debt issuance on a video conference with EU leaders on Thursday, saying the bloc is facing a crisis of “epic” dimensions because of the viral outbreak, according to officials familiar with the discussion.

She suggested that all available instruments should be used, including credit lines from the currency bloc’s bailout fund, liquidity and guarantees from the European Investment Bank as well as joint debt issuance to share the burden and the risk of the required spending spree.

While German Chancellor Angela Merkel

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