France and Germany back €500bn fund to help save EU
4 years, 7 months ago

France and Germany back €500bn fund to help save EU

The Telegraph  

France and Germany have proposed a €500bn recovery fund for struggling European Union economies as they battle to quell bitter infighting over the bloc's halting response to the Covid-19 catastrophe. Under new plans presented by French president Emmanuel Macron and German chancellor Angela Merkel, the 27 EU members would borrow jointly on financial markets to offer grants rather than loans to struggling nations. The move by the EU’s two most powerful economies comes after Berlin rejected previous calls for so-called “coronabonds”, jointly issued debt to pay for tackling the crisis. France and Germany will push for a “swift agreement” but the deal still has to be approved by the Netherlands, which has emerged as the biggest fiscal hawk on coronavirus rescue deals.

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History of this topic

Netherlands is one of five opposed to EU’s 200 billion euro budget for 2025
Trending News
1 month, 2 weeks ago

Netherlands is one of five opposed to EU’s 200 billion euro budget for 2025

NL Times  

After protracted negotiations, the European Union reached a preliminary agreement on its 2025 budget, but the Netherlands remains a vocal dissenter. The agreement, struck between EU finance ministers and the European Parliament, outlines 192.7 billion euro in commitments and 149.6 billion euro in payments. While the budget falls short of the European Parliament’s initial request of 194 billion euro, it …

EU releases blocked funds of $6.7 billion to Poland as part of its post-pandemic recovery package
8 months, 3 weeks ago

EU releases blocked funds of $6.7 billion to Poland as part of its post-pandemic recovery package

Associated Press  

WARSAW, Poland — The European Union disbursed 6.3 billion euros to Poland as a part of the 27-nation bloc’s post-pandemic recovery fund, the biggest single transfer ever to the country, a government minister said Monday. Poland’s former national conservative governmen t, voted out of power in October, made changes to the judiciary which the EU said violated democratic checks and …

German Cabinet approves a lower 2024 budget as it eyes a return to financial ‘normality’
1 year, 6 months ago

German Cabinet approves a lower 2024 budget as it eyes a return to financial ‘normality’

Associated Press  

BERLIN — Germany’s Cabinet on Wednesday approved a draft 2024 budget that foresees lower spending, with defense among the exceptions, as Europe’s biggest economy sticks to rules limiting borrowing that were suspended during the coronavirus pandemic. Germany plans to reach a NATO target of spending 2% of gross domestic product on defense next year, a measure on which it has …

EU unveils 210 billion euro plan to ditch Russian fossil fuels, as the war in Ukraine puts pressure on energy supplies
2 years, 7 months ago

EU unveils 210 billion euro plan to ditch Russian fossil fuels, as the war in Ukraine puts pressure on energy supplies

ABC  

The European Commission has unveiled a 210 billion-euro plan for Europe to end its reliance on Russian fossil fuels by 2027, and to use the pivot away from Moscow to quicken its transition to green energy. Key points: The EU says it will invest 210 billion euros into extra energy investments by 2027 It is part of a three-pronged plan …

NL may get over €1bn less from EU coronavirus recovery funds
2 years, 11 months ago

NL may get over €1bn less from EU coronavirus recovery funds

Dutch News  

The Netherlands may receive more than €1bn less than expected from European coronavirus recovery funds because the economy has performed better than earlier estimates indicated, finance minister Sigrid Kaag told MPs on Friday The Netherlands had expected some €6bn from Brussels and €5.8bn had been used in calculations for drawing up the new government spending plans. However, the real figure …

NL may get over €1bn less from EU coronavirus recovery funds
2 years, 11 months ago

NL may get over €1bn less from EU coronavirus recovery funds

Dutch News  

The Netherlands may receive more than €1bn less than expected from European coronavirus recovery funds because the economy has performed better than earlier estimates indicated, finance minister Sigrid Kaag told MPs on Friday The Netherlands had expected some €6bn from Brussels and €5.8bn had been used in calculations for drawing up the new government spending plans. However, the real figure …

Netherlands expects €1 billion less in EU Covid support
2 years, 11 months ago

Netherlands expects €1 billion less in EU Covid support

NL Times  

The Netherlands expects to receive over 1 billion euros less in European coronavirus support than previously thought, Finance Minister Sigrid Kaag wrote in a letter to parliament. The Netherlands now expects to receive 4.7 billion euros instead of the 6 billion euros the Cabinet previously assumed. The lower amount is because the Dutch economy sustained less damage from the coronavirus …

How might Merkel’s successor manage Germany’s role in the EU?
3 years, 3 months ago

How might Merkel’s successor manage Germany’s role in the EU?

Al Jazeera  

The German election comes at a critical time for the bloc, which is grappling with the pandemic, defence issues and the rise of illiberalism. Their discussions in the Elysee palace touched on the EU’s pandemic recovery package, climate change and defence policy – all priorities for Angela Merkel’s successor. “ ensure that there is no division between north and south …

EU nations approve a dozen pandemic recovery plans
3 years, 5 months ago

EU nations approve a dozen pandemic recovery plans

The Hindu  

approved the pandemic recovery plans of the bloc's four biggest economies and eight other member countries Tuesday, a move seen as a bellwether for an economic revival from the unprecedented recession caused by the coronavirus pandemic. In the case of France, which is to get some 40 billion euros USD 47.3 billion from the pandemic recovery fund, that would amount …

EU nations approve a dozen pandemic recovery plans
3 years, 5 months ago

EU nations approve a dozen pandemic recovery plans

Associated Press  

BRUSSELS — European Union nations approved the pandemic recovery plans of the bloc’s four biggest economies and eight other member countries Tuesday, a move seen as a bellwether for an economic revival from the unprecedented recession caused by the coronavirus pandemic. In the case of France, which is to get some 40 billion euros $47.3 billion from the pandemic recovery …

EU raises €20 billion in 10-year bond to fund virus recovery
3 years, 6 months ago

EU raises €20 billion in 10-year bond to fund virus recovery

Associated Press  

BRUSSELS — The European Commission said on Tuesday it has raised €20 billion through a 10-year bond as part of its plans to finance the 27-nation bloc’s recovery from the coronavirus crisis. EU Commission president Ursula von der Leyen said the inaugural transaction of the NextGeneration EU program is the largest ever institutional bond issuance in Europe. Von der Leyen …

The Netherlands receives €220 million in EU recovery package
3 years, 8 months ago

The Netherlands receives €220 million in EU recovery package

NL Times  

This year the Netherlands was granted 220 million euros from the European Union to support vulnerable people in the job market during the pandemic. Starting on Monday, labor market regions can apply for subsidies to help fund projects surrounding training initiatives to help return people to work. The support package is also intended to help guide students in practical schooling …

EU lawmakers OK $815 billion recovery program
3 years, 10 months ago

EU lawmakers OK $815 billion recovery program

Associated Press  

BRUSSELS — European Union lawmakers on Wednesday approved a 672.5 billion euro recovery package of loans and grants to help member nations recover more quickly from the coronavirus pandemic, but countries will not receive the money for several months. The European Parliament voted 582-40, with 69 abstentions, in favor of the regulation for the Recovery and Resilience Facility, the central …

Dutch PM criticized over EU Covid recovery fund
4 years, 4 months ago

Dutch PM criticized over EU Covid recovery fund

NL Times  

Prime Minister Mark Rutte faced a lot of criticism in the parliamentary debate on the European Union coronavirus recovery fund. The recovery fund will contain 750 billion euros - 390 billion euros in subsidies, and 360 billion in loans to individual countries. The D66 was critical of the months of arguments and fights that preceded the agreement on the recovery …

European Union to Give €1.65 Million to Support Victims of Floods in South Asia
4 years, 4 months ago

European Union to Give €1.65 Million to Support Victims of Floods in South Asia

News 18  

The European Union on Tuesday said it is providing 1.65 million euro in humanitarian aid in response to severe flooding that has affected South Asia most notably Bangladesh, India and Nepal. The funding comes on top of the 1.8 million euro announced earlier this year to support families affected by a series of disasters, including Cyclone Amphan that ravaged India …

European Union leaders reach deal on 750 billion euro recovery fund
4 years, 5 months ago

European Union leaders reach deal on 750 billion euro recovery fund

Live Mint  

European Union leaders reached a deal on a massive stimulus plan for their coronavirus-blighted economies at a pre-dawn meeting on Tuesday after a fractious summit that went through the night and into its fifth day. Officials said the deal, which came after Michel presented compromises on a 750 billion euro recovery fund, is critical to dispel doubts about the bloc's …

EU leaders agree on $860bn joint-debt economic relief package
4 years, 5 months ago

EU leaders agree on $860bn joint-debt economic relief package

Al Jazeera  

Deal follows days of rancour over the proportion of grants compared to loans repayable by the fund’s beneficiaries. The deal will see the EU issue 750 billion euros of joint debt to help member states mitigate the economic downturn. Italian Prime Minister Giuseppe Conte said his country expects to receive 28 percent of the 750 billion euro emergency fund, comprising …

Stocks: EU recovery deal could tempt investors
4 years, 5 months ago

Stocks: EU recovery deal could tempt investors

CNN  

London CNN Business — Investors eying Europe for opportunities as it continues to recover from the Covid-19 pandemic have another reason to pump money in the region. The headline figure was reduced to appease a group of fiscally conservative northern European nations — Austria, the Netherlands, Sweden and Denmark — known as the “Frugal Four.” But the agreement is still …

What the EU's coronavirus rescue fund deal means for Brexit
4 years, 5 months ago

What the EU's coronavirus rescue fund deal means for Brexit

The Telegraph  

Angela Merkel keeps her cards close to her chest but, when the German Chancellor lays them on the table, all of the EU’s leaders sit up and take notice. On the fifth day of tense summit talks EU heads of state and government agreed in the early hours of Tuesday morning to an unprecedented €750billion coronavirus rescue fund and a …

Coronavirus EU bailout came ‘close to failure’ but new compromise being drawn up
4 years, 5 months ago

Coronavirus EU bailout came ‘close to failure’ but new compromise being drawn up

Dutch News  

The EU summit on a coronavirus bailout package ended early on Monday morning without success so far, reports NOS. ‘The conversations last night made progress on a few things,’ prime minister Mark Rutte said in a briefing on Monday morning. ‘It looks a bit more hopeful than when I thought last night: it’s over.’ The heads of all 27 EU …

Coronavirus EU bailout came ‘close to failure’ but new compromise being drawn up
4 years, 5 months ago

Coronavirus EU bailout came ‘close to failure’ but new compromise being drawn up

Dutch News  

The EU summit on a coronavirus bailout package ended early on Monday morning without success so far, reports NOS. ‘The conversations last night made progress on a few things,’ prime minister Mark Rutte said in a briefing on Monday morning. ‘It looks a bit more hopeful than when I thought last night: it’s over.’ The heads of all 27 EU …

Still no deal on EU coronavirus recovery fund; Debate continues today
4 years, 5 months ago

Still no deal on EU coronavirus recovery fund; Debate continues today

NL Times  

After a weekend of tense discussions on an economic recovery fund to help European Union countries hit hard by the coronavirus pandemic, the 27 EU leaders still have not come to an agreement. Dutch Prime Minister Mark Rutte said that European Council president Charles Michel is working on a new compromise "and progress is being made", but added that the …

EU coronavirus fund debate enters third day after tense night
4 years, 5 months ago

EU coronavirus fund debate enters third day after tense night

NL Times  

Negotiations about the form of an immense coronavirus recovery fund started up again on Sunday after the debate between European Union leaders grew tense the previous night. A report from broadcaster RTL Nieuws told of Dutch Prime Minister Mark Rutte standing firm on those issues, prompting French leader Emmanuel Macron to "frenziedly" leave talks with the group. German Chancellor Angela …

EU extends summit after deadlock over coronavirus recovery plan
4 years, 5 months ago

EU extends summit after deadlock over coronavirus recovery plan

Al Jazeera  

European Union leaders failed to agree on a massive stimulus fund to revive their coronavirus-hammered economies on Saturday after two days of fraught negotiations, but extended their summit for another day to try and overcome their differences. As the 27 leaders scurried back to their hotels after a late, inconclusive dinner, German Chancellor Angela Merkel and French President Emmanuel Macron …

EU summit: Merkel warns of no deal on coronavirus recovery fund
4 years, 5 months ago

EU summit: Merkel warns of no deal on coronavirus recovery fund

Al Jazeera  

Talks on rescue package could fail, says German Chancellor as bickering leaders meet for a third day. European Union leaders may not reach a deal on a coronavirus stimulus plan on Sunday, German Chancellor Angela Merkel warned as marathon negotiations ran into a third day and acrimony mounted over the demands of rich but thrifty countries. Germany and France, the …

No deal in sight; EU leaders haggle over budget, virus fund
4 years, 5 months ago

No deal in sight; EU leaders haggle over budget, virus fund

Live Mint  

European Union leaders hunted for compromises Saturday on the second day of a summit to reach a deal on an unprecedented 1.85 trillion euro EU budget and coronavirus recovery fund, with tensions running high among leaders weary after months of battling the pandemic. Austrian Chancellor Sebastian Kurz said Saturday afternoon that there was “movement in the right direction,” the Austria …

EU leaders far from deal on budget and virus recovery fund
4 years, 5 months ago

EU leaders far from deal on budget and virus recovery fund

Associated Press  

BRUSSELS — European Union leaders headed into Saturday, the scheduled final day of their summit, about as far apart from reaching a deal on an unprecedented 1.85 trillion euro EU budget and coronavirus recovery fund as the seating distance imposed upon them for health reasons. After two full sessions, summit host and European Council President Charles Michel worked with individual …

Dutch gov't agrees to push extra money into development cooperation: report
4 years, 6 months ago

Dutch gov't agrees to push extra money into development cooperation: report

NL Times  

The coalition parties have come to an agreement to push a once-off amount of 500 million euros extra into the budget for foreign development cooperation, sources in The Hague told NOS. As the development cooperation budget is linked to gross national income, the economic crisis caused by the coronavirus threatened to lower this budget. But thanks to the measures the …

Frugal four call for responsible pandemic spending ahead of EU leaders talks
4 years, 6 months ago

Frugal four call for responsible pandemic spending ahead of EU leaders talks

Dutch News  

The Netherlands and its partners in the ‘frugal four’ group of European countries have again reiterated their support for loans to aid economic recovery and warned that all spending must be responsible, this time in a letter in the Financial Times. Dutch prime minister Mark Rutte and the leaders of Sweden, Denmark and Austria set out their vision ahead of …

Frugal four call for responsible pandemic spending ahead of EU leaders talks
4 years, 6 months ago

Frugal four call for responsible pandemic spending ahead of EU leaders talks

Dutch News  

The Netherlands and its partners in the ‘frugal four’ group of European countries have again reiterated their support for loans to aid economic recovery and warned that all spending must be responsible, this time in a letter in the Financial Times. Dutch prime minister Mark Rutte and the leaders of Sweden, Denmark and Austria set out their vision ahead of …

ECB and Germany throw a wall of money at the coronavirus recession
4 years, 7 months ago

ECB and Germany throw a wall of money at the coronavirus recession

CNN  

London CNN Business — Europe is throwing money at the region’s deepest downturn since the Great Depression. The announcement comes after Germany’s government approved a €130 billion stimulus package to kickstartthe recovery in Europe’s biggest economy, offering new tax breaks and incentives for electric car purchases. “The combination of the fiscal policy and the monetary policy … that hopefully will …

Coronavirus could cause a new euro crisis: Dutch Planning Office
4 years, 7 months ago

Coronavirus could cause a new euro crisis: Dutch Planning Office

NL Times  

The coronavirus crisis could lead to a new euro crisis, the Netherlands office for economic policy analysis CPB said after analyzing the vulnerabilities of the financial system. Despite coronavirus support measures implemented by the government, businesses and households are facing increasing financial difficulties. It showed that a quarter of small and medium sized businesses need more money than support measures …

EU coronavirus recovery negotiations will take time, cautions Dutch PM
4 years, 7 months ago

EU coronavirus recovery negotiations will take time, cautions Dutch PM

Dutch News  

The Netherlands is involved in ‘intensive and constructive’ contact with other EU countries and members of the European Commission about plans to set up a multi billion euro coronavirus recovery fund, prime minister Mark Rutte told reporters on Wednesday evening. Encouraged Austria’s chancellor Sebastian Kurz told Politico.eu that he and the other leaders of the frugal four group have been …

EU coronavirus recovery negotiations will take time, cautions Dutch PM
4 years, 7 months ago

EU coronavirus recovery negotiations will take time, cautions Dutch PM

Dutch News  

The Netherlands is involved in ‘intensive and constructive’ contact with other EU countries and members of the European Commission about plans to set up a multi billion euro coronavirus recovery fund, prime minister Mark Rutte told reporters on Wednesday evening. Encouraged Austria’s chancellor Sebastian Kurz told Politico.eu that he and the other leaders of the frugal four group have been …

European Union unveils $824bn coronavirus recovery plan
4 years, 7 months ago

European Union unveils $824bn coronavirus recovery plan

Al Jazeera  

Package seeks to avoid a further splintering of economic growth and wealth levels among EU’s 27 member states. The European Commission on Wednesday released details of a coronavirus economic relief package for member countries worth 750 billion euros. The blueprint envisions borrowing the funds and disbursing them as grants and loans to member states, with the lion’s share of aid …

€750bn plan to fund recovery is 'defining moment' for Europe
4 years, 7 months ago

€750bn plan to fund recovery is 'defining moment' for Europe

The Telegraph  

Speaking to the European Parliament in Brussels, Mrs der Leyen said: “Today we face our very own defining moment. The plan requires unanimous support among the 27 EU member states and is opposed by fiscally conservative member states. That stance has reopened wounds left from the financial crisis among some southern member states, which were forced to swallow tough terms …

EU plans to raise $825 billion for coronavirus relief
4 years, 7 months ago

EU plans to raise $825 billion for coronavirus relief

CNN  

London CNN Business — The European Commission has proposed giving hundreds of billions of euros to EU countries that have seen their economies devastated by the coronavirus pandemic, an unprecedented relief effort designed to ensure parts of the bloc aren’t left behind when the recovery comes. “We all understand the crisis is so huge we have to take unusual steps …

The EU is still divided over coronavirus relief. That could tear it apart
4 years, 7 months ago

The EU is still divided over coronavirus relief. That could tear it apart

CNN  

London CNN Business — A fight over how to fund the European Union’s recovery from the coronavirus pandemic is stoking tensions between wealthier and poorer countries, threatening to delay the region’s economic rebound and unleash political and financial forces that could pull the bloc apart. If we have another asymmetric recovery, then it will be very bad for the EU.” …

Netherlands presses counter-proposal to 'generous' EU spending
4 years, 7 months ago

Netherlands presses counter-proposal to 'generous' EU spending

NL Times  

The Netherlands is spearheading a counterplan to the 500 billion euro recovery proposal laid out by German Chancellor Angela Merkel and French President Emmanuel Macron on Monday. In a newly-drawn proposal on Saturday, the Dutch have asserted that loans, rather than grants and subsidies, should be available to the eurozone economies bearing the brunt of the unfolding economic crisis. The …

Germany and France propose 500 billion euro EU recovery fund
4 years, 7 months ago

Germany and France propose 500 billion euro EU recovery fund

CNN  

London CNN Business — Germany and France unveiled an initiative Monday aimed at rescuing the European Union from the toughest crisis in its history and bridging the deep national divisions that have stalled progress on a pandemic recovery fund. After meeting via videoconference, German Chancellor Angela Merkel and French President Emmanuel Macron proposed the creation of a recovery fund worth …

Netherlands urged to give a billion euros of support to African nations
4 years, 7 months ago

Netherlands urged to give a billion euros of support to African nations

NL Times  

The Netherlands must make 1 billion euros in aid available to combat the coronavirus and the crisis around it in developing countries in Africa, among others, the Dutch government's advisory council on international affairs AIV said in advise to the government on Monday, Het Parool reports. "Covid-19 is the first global crisis without American leadership and it intensifies the US-China …

EU agrees first part of coronavirus economic rescue, but job not done yet
4 years, 8 months ago

EU agrees first part of coronavirus economic rescue, but job not done yet

The Hindu  

Euro zone governments gave their final approval on Friday to the first part of a 540 billion-euro rescue plan for states hit hard by the coronavirus pandemic, although other elements of the rescue package have yet to be agreed on. Finance ministers of the 19-nation region signed off on the details of cheap, long-term credit lines that will be made …

'We will work constructively' Dutch PM says of EU recovery fund plan
4 years, 8 months ago

'We will work constructively' Dutch PM says of EU recovery fund plan

Dutch News  

European leaders on Thursday agreed to support earlier agreed plans for a €540bn immediate bail-out package to help pay for job maintenance and medical costs during the coronavirus crisis. They also agreed that the European Commission should take the lead in developing a recovery fund to help member states’ economies get back up to steam once lockdown measures are eased. …

'We will work constructively' Dutch PM says of EU recovery fund plan
4 years, 8 months ago

'We will work constructively' Dutch PM says of EU recovery fund plan

Dutch News  

European leaders on Thursday agreed to support earlier agreed plans for a €540bn immediate bail-out package to help pay for job maintenance and medical costs during the coronavirus crisis. They also agreed that the European Commission should take the lead in developing a recovery fund to help member states’ economies get back up to steam once lockdown measures are eased. …

EU agrees budget, recovery plan needed to beat virus impact
4 years, 8 months ago

EU agrees budget, recovery plan needed to beat virus impact

Associated Press  

BRUSSELS — European Union leaders agreed Thursday to revamp the EU’s long-term budget and set up a massive recovery fund to tackle the impact of the coronavirus and help rebuild the 27-nation bloc’s ravaged economies, but deep differences remain over the best way to achieve those goals. “There is only one instrument that can deliver this magnitude of task behind …

Europe commits to €500 billion coronavirus support package; "Sensible and solidary", Dutch FM says
4 years, 9 months ago

Europe commits to €500 billion coronavirus support package; "Sensible and solidary", Dutch FM says

NL Times  

After a failed marathon meeting of some 16 hours on Tuesday, the Eurogroup managed to come to an agreement to help the EU countries most affected by the coronavirus crisis. The agreement "was not without a struggle", Minister Wopke Hoekstra of Finance said to NU.nl, but he is satisfied with the package, calling it "sensible and solidary". The European Finance …

Europe has a rescue package. But who’s going to pay for its coronavirus recovery?
4 years, 9 months ago

Europe has a rescue package. But who’s going to pay for its coronavirus recovery?

CNN  

London CNN Business — EU finance ministers have approved €500 billion in stimulus measures designed to cushion the blow to their economies from the coronavirus pandemic, while leaving open the difficult question of how to pay for the region’s recovery. The deal was announced Thursday after weeks of back and forth over how to address the crisis, a bruising process …

EU finance ministers fail to agree on corona crisis funding
4 years, 9 months ago

EU finance ministers fail to agree on corona crisis funding

Dutch News  

Video talks between EU finance ministers on finding a solution to fund the corona crisis carried on deep into the night but ended without resolution as divisions between the Netherlands and Italy continued. Italy is known to be keen to use the European Stability Mechanism to help pay for the crisis, but Dutch finance minister Wopke Hoekstra is among those …

EU finance ministers fail to agree on corona crisis funding
4 years, 9 months ago

EU finance ministers fail to agree on corona crisis funding

Dutch News  

Video talks between EU finance ministers on finding a solution to fund the corona crisis carried on deep into the night but ended without resolution as divisions between the Netherlands and Italy continued. Italy is known to be keen to use the European Stability Mechanism to help pay for the crisis, but Dutch finance minister Wopke Hoekstra is among those …

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