EU deal on recovery plan ‘hopefully’ before Apr 12 – Scholz

Germany’s Federal Minister of Finance Olaf Scholz stated on Wednesday that a Eurogroup agreement on comprehensive economic relief measures is “close,” and “hopefully” reached by April 12.

Speaking after a failed Eurogroup meeting, Scholz said that recovery fund negotiations are continuing. The Eurozone finance ministers are discussing a €500 billion plan involving the European Investment Bank (EIB), the European Stability Mechanism (ESM) and the Support to mitigate Unemployment Risks in an Emergency (SURE) funds, he explained.

Current regulations for using ESM funds should be applied to any country where aid is necessary and should be tied to coronavirus pandemic-caused economic damage, Scholz stressed.



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