Leaders of the European Union will push towards mutual support for recovery following the coronavirus pandemic by urging the European Commission to recommend a fund broad enough to address the industries and regions most impacted by it.
Many leaders see substantial joint recovery support as a critical resource for EU cooperation, as others in the 27-nation group would find it harder than others to rebuild their economy after this year’s deepest-ever recession.
Leaders are likely to give the EU executive arm till the end of April or shortly after that, officials said, to come up with the size of the Recovery Fund and ways to finance it.
The sums discussed in front of the summit proposals are colossal, ranging from 1 trillion to several trillion euros. Perhaps the most contentious issue is how they will gather the money, and whether they will be distributed as loans or grants.
The Panthera Post 