Germany and France are ready to increase the EU’s next financial framework once and for a limited time by half a trillion euros.
Germany and France took the initiative on Monday in the stuck debate about the EU reconstruction fund. After a teleconference, Chancellor Angela Merkel and President Emmanuel Macron announced that they would be campaigning for a € 500 billion construction fund that was to be “ambitious, limited in time and targeted”. This moneypot should become part of the Union’s next multiannual financial framework for 2021-2027. However, it would not be filled by increased membership fees from the states. Rather, the EU treaties should, as in the context of the financial crisis a year ago, empower the Commission to raise money in the financial markets.
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