Germany and France have unveiled an initiative aimed at rescuing the European Union from the toughest crisis in its history and bridging the deep national divisions that have stalled progress on a pandemic recovery fund
London Germany and France unveiled an initiative Monday aimed at rescuing the European Union from the toughest crisis in its history and bridging the deep national divisions that have stalled progress on a pandemic recovery fund.
After meeting via videoconference, German Chancellor Angela Merkel and French President Emmanuel Macron proposed the creation of a recovery fund worth €500 billion that would help the EU countries and industries hit hardest by the coronavirus pandemic. Merkel said the crisis threatened the cohesion of the European Union. The initiative by Europe's top two economies was aimed at helping achieve a consensus among all 27 EU member states, she added.
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