First EU summit on recovery plan to support post-coronavirus economy

This new European Council will be held on Friday 19 June by videoconference. Here, the President of the European Council, Charles Michel, during a videoconference in Brussels, June 18, 2020. Francisco Seco / Pool via REUTERS

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The European Council on video conference this Friday, June 19 does not look decisive, but as an important step to move forward on the post-coronavirus recovery plan proposed by the European Commission. An unprecedented plan of 750 billion euros including 500 billion in subsidies.

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An agreement is needed in July, France and Germany have repeated it again these last hours, this would allow an arrival of money in the pocket of the countries concerned within 6 months. It would also allow negotiations not to get bogged down.

► Read also: The European Commission unveils a recovery plan of 750 billion euros

This Friday's meeting is therefore first and foremost a warm-up, the opportunity to present the positions of each. The Élysée wants to believe it, there is no block of "no" in the 4 countries called "frugal" , "  a marketing construct  ", judges an adviser.

Denmark, Sweden, the Netherlands and Austria are generally against the principle of subsidies, when those of the Visegrad group said they were very attentive to the method of allocating funds.

The Italian Prime Minister has in any case decided to do everything to reassure. Tuesday, Giuseppe Conte affirmed: these European funds to come are not in his eyes "  a big deal  " and they will be "  spent at best as an investment for the modernization of the country  ".

In late March "  words that have been said between Europeans who will be missed,  " said a diplomat. Since the climate between the 27 seems to have calmed down well.

► Read also: EU: the path full of pitfalls of the European recovery plan

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  • European Union
  • Finance
  • Coronavirus
  • Economy

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