Eurogroup chief Mario Centeno said plans by Germany and France to set up a 500 billion euro ($545 billion) recovery fund to cope with the coronavirus pandemic would be a step towards a fiscal union of the bloc.
“This initiative is a brave step in the right direction to overcome this crisis,” Centeno told German weekly Welt am Sonntag.
“The German-Franco proposal would be a great step towards a fiscal union and a properly functioning currency union, even if the recovery fund is only temporary,” said Centeno, who is also Portugal’s finance minister. The two biggest EU countries had unveiled the proposal on Monday, aimed at offering grants to European Union regions and sectors hit hardest by the coronavirus pandemic.
The proposal foresees the European Commission borrowing the money on behalf of the whole EU and spending it in addition to the 2021-2027 EU budget that is already close to 1 trillion euros over that period.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
The number of women running Fortune 500 companies hits a new highThe number of women running Fortune 500 companies has hit a new high. (via CNBCMakeIt)
Weiterlesen »
'The Outpost' Plots Theatrical Run on 500 Screens in JulyAs some states begin to partially reopen their economies amid a novel coronavirus pandemic, Screen Media's Afghanistan war film TheOutpost is planning a brief theatrical run on about 500 screens starting on July 2
Weiterlesen »
Memorial for Late WWE Star Shad Gaspard Held at California Beach: 'Over 500 People Showed Up'Former WWE star Shad Gaspard died after he helped rescue his 10-year-old son from rough waves at Venice Beach
Weiterlesen »
DJs play to a socially distant crowd at German clubClubbers were limited to moving inside individual circles spaced out on the dance floor, and had to wear face masks.
Weiterlesen »
Key Mexican state for German automakers hits brakes on restartThe Mexican state of Puebla said on Friday that conditions 'do not exist' yet to re-start activities in its automotive industry due to the coronavirus pandemic, putting the brakes on carmakers rebooting their operations there.
Weiterlesen »
Lufthansa bailout talks hit snag, drag on - HandelsblattTalks over a 9-billion euro German government bailout of Lufthansa have hit a snag and will continue over the weekend, a German newspaper reported on Friday.
Weiterlesen »