In July EU leaders agreed to launch a €1.8 trillion recovery plan that would help boost the economy over the next seven years. — Reuters pic
“We are united and determined to use all our strength to face the second wave. Our first priority is to deploy the recovery plan as soon as possible,” the chairman of the euro zone ministers’ group Paschal Donohoe said. The launch of the already agreed scheme, which is split into a €1.1 trillion regular long-term EU budget and a 750 billion euro recovery fund of grants and loans, is stuck in negotiations between the various capitals and Brussels.
“Obviously, the fiscal impulse will have to stay next year,” the senior official said. “There is a very clear understanding that whenever we decide to withdraw fiscal support, there should be no cliff edge—it should be gradual,” the official said.
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