French President Emmanuel Macron and German Chancellor Angela Merkel on May 18 presented a joint action plan to face the Covid-19 epidemic in Europe. ‘The EU must show cohesion, we have to quickly overcome this. This is why we want to have a fund, which of course will be limited in time, but €500 billion will be earmarked. These won’t be loans, this will be budget spending that will be earmarked to regions and sectors that are hardest hit by COVID. We’re convinced that these measures are appropriate and necessary. It’s important for the European Union to make funds available for several budget years’, Merkel said.
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