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21 April 2020updated 06 Oct 2020 9:45am

EU set to defer decision on economic recovery fund, according to a report

By Samuel Horti

European Union leaders are set to defer a decision on financing the economic recovery from the coronavirus when they meet on Thursday, according to a Reuters report.

The bloc’s 27 leaders are in disagreement about how to fund the recovery, particularly over whether a fund should be raised jointly or by individual nations. The size of the recovery fund is also under dispute: Spain is set to propose a €1.5 trillion fund, which is more than other leaders have suggested.

The European Commission wants to finance the recovery by increasing the EU’s joint budget for 2021-27, sources said, but hasn’t fully fleshed out its proposals. Thursday’s meeting is therefore likely to defer a funding decision, they said.

 

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