European Union leaders must reach a deal fast on a recovery fund to avoid a long and painful recession for a region shattered by the coronavirus pandemic, Spain's foreign minister said.
MADRID - European Union leaders must reach a deal fast on a recovery fund to avoid a long and painful recession for a region shattered by the coronavirus pandemic, Spain’s foreign minister said.
The European Commission on Wednesday unveiled a 750 billion euro plan to prop up the bloc’s economies, but it could face resistance in fiscally conservative northern nations dubbed “the frugal four”: Austria, the Netherlands, Sweden and Denmark. “This is not a battle between some frugal countries, and some free-spending countries. The battle today is between a swift recovery that generates jobs or a long recession that creates pain,” she said, calling for the disbursement of some of the funds before a full EU deal can be ironed out.
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Spain Enters ‘Longest Period Of Mourning’ For 27,000 People Who Died With CoronavirusI am a breaking news reporter for Forbes in London, covering Europe and the U.S. Previously I was a news reporter for HuffPost UK, the Press Association and a night reporter at the Guardian. I studied Social Anthropology at the London School of Economics, where I was a writer and editor for one of the university’s global affairs magazines, the London Globalist. That led me to Goldsmiths, University of London, where I completed my M.A. in Journalism. Got a story? Get in touch at isabel.togohforbes.com, or follow me on Twitter bissieness. I look forward to hearing from you.
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