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The French President, Emmanuel Macron , and the German Chancellor , Angela Merkel , have proposed this Monday the creation of a European fund of 500,000 million euros for reconstruction destined through non-reimbursable subsidies to the countries and sectors hardest hit by the Covid-19 pandemic.

This was announced by the two leaders at a press conference after a video conference that they held with the aim of later announcing a joint initiative for the EU's economic relaunch plan after the crisis.

" A colossal effort is necessary and France and Germany are ready to do it, " Merkel stressed at the press conference. It is an unprecedented crisis that requires a European response, "Macron later said.

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