BERLIN, June 18 — German Chancellor Angela Merkel today urged the European Union to reach an agreement on a recovery plan worth €750 billion (RM3.6 trillion) by the end of July to kickstart an economy battered by the coronavirus pandemic. “It would be best if we could reach an agreement...
German Chancellor Angela Merkel arrives for the European Union leaders summit in Brussels, Belgium, February 20, 2020. — Reuters pic
“It would be best if we could reach an agreement before the summer break,” Merkel said, calling for compromise from member states to enable the deal to be ratified by the end of the year.European Commission chief Ursula von der Leyen proposed the huge fund to help the EU out of its deepest-ever recession, but the plan was immediately met with fierce opposition from fiscally conservative member states including Austria and the Netherlands.
“The starting position is far from easy but I hope that all member states will act in a spirit of compromise in the face of this unprecedented situation,” Merkel said. The European Council is due to hold a video summit on June 19 on the controversial stimulus package, the EU’s largest to date.
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