Charles Michel: The 27 agreed to set up a recovery fund

Charles Michel: The 27 agreed to set up a recovery fund

European Council President Charles Michel announced at the end of the summit, that the 27 EU member states have agreed to set up a recovery fund that will be linked to  the EU’s next 7-year budget and welcomed the commission’s plan to gradually lift restrictive measures.

“This pandemic is putting serious pressure on our societies. The well-being of every EU member state depends on the well-being of the EU as a whole,” he said.

“We discussed the progress in the various aspects of Europe’s reaction to the pandemic and hailed the Common European Roadmap for lifting the COVID-19 restriction measures. We all agreed that the health and safety of our citizens comes first,” he said.

“We also agreed to continue to monitor the situation closely, in particular as we approach the holiday season and to coordinate as much as possible to ensure a gradual and orderly lifting of restrictions,” he said.

“We also agreed to work for the creation of a recovery fund, which is necessary and urgent. This fund must be big enough to address the sectors and geographical parts of Europe that are most affected and it has to be solely for the tackling this unprecedented crisis “, announced the President.

“Therefore, we have asked the Commission to analyze the exact needs and to urgently submit a proposal that is commensurate with the challenge we face,” Mr. Michel said.

Finally, the President of the European Council announced that the 27 member states had decided to hold a teleconference with the Western Balkans on May 6.

The post Charles Michel: The 27 agreed to set up a recovery fund appeared first on ERT International.

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