Germany, France propose 500 billion-euro virus recovery fund for EU economy

BERLIN -- The leaders of Germany and France agreed Monday on a one-off 500 billion-euro fund to help the European Union recover from the coronavirus pandemic, a proposal that would add further cash to an arsenal of financial measures the bloc is readying to cope with the outbreak's economic fallout.

"Because of the unusual nature of the crisis we are choosing an unusual path," Merkel told reporters following the joint announcement."We must draw all lessons from this pandemic," he said, insisting on the need for "solidarity" between EU member states. There has been concern in European capitals that the pandemic and the bloc's initial uncoordinated response to it could boost anti-EU sentiment in member states.

Merkel expressed cautious optimism, however, that the agreement between Berlin and Paris would win widespread support. But Conte added in his Facebook post Monday evening: "To overcome the crisis and to help businesses and families, the #RecoveryFund needs to be broadened." He described himself as "confident of an ambitious proposal by @EU--Commission."

All Countries should agree just to write all COVID related debt off.

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