Home Topics Business EU's Michel Says COVID-19 Recovery Fund Is Enough - Les Echos

EU’s Michel Says COVID-19 Recovery Fund Is Enough – Les Echos

© Reuters. The President of the European Council, Michel, speaks during a press conference in Ankara

PARIS (Reuters) – The European Union’s COVID-19 recovery response is robust and not too short compared to the US $ 1.9 trillion recovery plan, European Council President Charles Michel told Les Echos newspaper .

Last summer, the EU member states agreed on a recovery fund of 750 billion euros (892.2 billion US dollars). However, with governments still submitting detailed spending plans, frustration is growing in some capitals at the slow disbursement of money.

Some heads of state and government, including French President Emmanuel Macron, have also questioned whether further impulses are needed after a second and now third wave of coronavirus infections on the continent, which led to further bans.

“I am well aware that some judges (the Fund) are insufficient to compare with the US recovery plan. I do not share that opinion,” Michel was quoted in an interview published by the French newspaper on Saturday.

Michel, chairman of the European Union summits, said individual member states have made emergency spending since the beginning of the health crisis and that social benefits in Europe have been more generous than in the US.

“They allowed us to better absorb the shock and will also help us recover,” he said. “When you put all these elements together, I think the European plan is very robust.”

($ 1 = 0.8406 euros)

Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data.

Fusion Media, or anyone involved with Fusion Media, assumes no liability for any loss or damage caused by reliance on the information contained on this website, such as data, offers, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets. This is one of the riskiest forms of investment possible.


Please enter your comment!
Please enter your name here

Latest articles

COVID-19 surprised us all. Will your organization be ready for the next chaos?

by Mark Goulston, MD, and Diana Hendel, PharmD, of "Trauma to Triumph: A Roadmap for Leading...

Eagle Rock veteran Simon Hosken joins the livestream company PUSH LIVE as chief financial and operating officer

Live entertainment technology company PUSH LIVE has hired Simon Hosken as Chief Financial and Operating Officer.Previously, Hosken was the COO and CFO of Eagle...

INTERNATIONAL Shipping via Paypal EXPLAINED | Small Businesses, Entrepreneur Life, Depop Seller Tips

International shipping via Paypal EXPLAINED | Small Businesses, Entrepreneur Life, Depop Seller Tips + Easy to follow! Hope yall enjoyed the video. Please ...