Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

EU's Michel says COVID-19 recovery fund is sufficient - Les Echos

CoronavirusApr 10, 2021 05:45AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. European Council President Michel speaks during a news conference in Ankara

PARIS (Reuters) - The European Union's COVID-19 recovery response is robust and does not fall short when compared with the United States' $1.9 trillion recovery plan, European Council President Charles Michel told Les Echos newspaper.

EU member states agreed last summer on a 750 billion euro ($892.2 billion) recovery fund, but with governments still submitting detailed spending plans, frustration is growing in some capitals at the slow speed of disbursing the money.

Some leaders, including French President Emmanuel Macron, have also questioned whether further stimulus is needed after a second and now a third wave of coronavirus infections swept the continent, prompting further lockdowns.

"I know perfectly well that some judge (the fund) to be insufficient, making a comparison with the U.S. recovery plan. It's not an opinion that I share," Michel was quoted as saying in an interview published by the French newspaper on Saturday.

Michel, who chairs European Union summits, said there had been emergency spending by individual members states since the health crisis began and that Europe's social welfare benefits were more generous than those in the United States.

"They have allowed us to better absorb the shock and will also contribute to the recovery," he said. "When you put all these elements together, my conviction is that the European plan is very robust."

($1 = 0.8406 euros)

EU's Michel says COVID-19 recovery fund is sufficient - Les Echos
 

Related Articles

Vietnam says new COVID outbreak threatens stability
Vietnam says new COVID outbreak threatens stability By Reuters - May 09, 2021

HANOI (Reuters) - Vietnam reported 102 new COVID-19 infections on Sunday as the Southeast Asian country battled a fast-spreading outbreak which Prime Minister Pham Minh Chinh said...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Eudon Hickey
Eudon Hickey Apr 10, 2021 11:53AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Part of the ********movement trying to take over the world using “Covid” as an excuse
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email