European Commission reportedly to propose €750 billion in virus recovery fund to aid member states

Author: Justin Low | Category: News

€500 billion will be in grants and €250 billion will be in loans

This is being reported by dpa/n-tv in Germany, citing people familiar with the matter.

This is the compromise proposal that was mentioned earlier here, in trying to appease both the Franco-German camp as well as the "frugals" following their conflicting proposals on pushing for grants and loans respectively.

European stocks are rising further on the back of this with the euro also getting a good nudge higher from 1.0950 to touch a high of 1.0986 against the dollar.

See here for global coronavirus case data
That said, as mentioned in the earlier post as well, don't expect this to lead to a watershed moment in which everyone comes together and live happily ever after.

If anything else, there is still going to be lots of push and pull as all countries involved will continue to push their own agenda and force it on the commission's proposal. In other words, we can expect extended discussions in the coming weeks and more of this:



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