Chancellor Angela Merkel following the European Council meeting
In a video conference, the European Council has consulted on the COVID-19 pandemic and looked at ways of addressing the economic repercussions of the pandemic. An economic recovery programme is needed in Europe, and this is also in Germany’s best interests, explained Chancellor Angela Merkel after the meeting.
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Chancellor Angela Merkel consulted with EU heads of state and government about the COVID-19 pandemic.
Photo: Bundesregierung/Steins
The focus is on how Europe can deal with the challenges posed by the coronavirus pandemic, and how we can do so together, reported Chancellor Angela Merkel on Thursday evening in Berlin, following the video conference of the European Council.
"We need an economic recovery programme in Europe – and this is also in Germany’s best interests," said Angela Merkel. The European Commission is now to draw up proposals for a recovery programme. An important part of this will involve investing in the future – in climate action, innovative mobility and digitalisation, the Chancellor explained.
Package of measures approved
The EU heads of state and government approved the package of measures agreed two weeks ago by the EU finance ministers. It provides for over 500 billion euros in assistance – with loans from the European Investment Bank for small and medium enterprises, an EU short-time work allowance and precautionary credit lines from the ESM for member states. Chancellor Angela Merkel explained that the goal is to have the funding available as of 1 June. For this, the German Bundestag must also be involved.
The video of Chancellor Angela Merkel’s press conference following the European Council can be seen here.