The EU Recovery Fund, which was set up to help the bloc countries rebuild after the coronavirus pandemic, could be used differently given the war in Ukraine, the German finance minister said today.
“Given the change in the situation, I am open to prioritizing the resources available,” German Finance Minister and leader of the pro-business FDP Christian Lindner told the Frankfurter Allgemeine Sonntagszeitung.
Lindner added that what is needed is “investment in infrastructure, energy and competitiveness, but no other government spending and overdue reforms.”
In an unprecedented move to avoid economic fragmentation due to the pandemic, EU countries agreed in 2020 to jointly borrow € 800 billion to rebuild their economies to be greener and more digital.
In a few weeks, the EU will discuss whether there is a need for greater common borrowing so that the bloc can meet the challenges posed by the Russian invasion of Ukraine, European Economic Commissioner Paolo Gentiloni said on Tuesday.
Source: AMPE
Source: Capital
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