European Commission President Ursula von der Leyen. Image: DPA/PA Images European Commission President Ursula von der Leyen. Image: DPA/PA Images EUROPEAN UNION CHIEF Ursula von der Leyen is to propose a roughly trillion-euro post-virus recovery fund for Europe, but will have to win over sceptical member states.
The virus has killed at least 172,000 people in Europe and put its economy in a deep freeze, with businesses only slowly reopening and tight controls on borders that were once wide open for travel and trade. Merkel, who is in the final years of a long stint as German chancellor, also backs the EU helping virus-struck countries with grants rather than loans, another policy U-turn by Berlin.
European Central Bank Vice-President Luis de Guindos yesterday warned that more debts incurred by countries already under pressure could spook the markets and endanger the euro single currency.
It's a bailout for Deutche Bank.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: rtenews - 🏆 1. / 99 Read more »
Source: rtenews - 🏆 1. / 99 Read more »