Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

EU will launch Recovery Fund regardless of vetoes if necessary: Gentiloni

Published 12/04/2020, 04:58 AM
Updated 12/04/2020, 05:00 AM
© Reuters. FILE PHOTO: News conference following a Eurogroup video conference meeting at the European Council headquarters in Brussels

ROME (Reuters) - The European Union will push on with its 1.8 trillion euro ($2.14 trillion) financial package to revive the bloc's COVID-hit economy even if Hungary and Poland continue to try to veto the project, Economics Commissioner Paolo Gentiloni said on Friday.

Budapest and Warsaw have vetoed the adoption of the 1.1 trillion euro 2021-2027 EU budget and the 750 billion euro Recovery Fund because the budget law included a clause which makes access to money conditional on respecting the rule of law.

"We will not surrender to a veto," Gentiloni said at a conference organised by Italian think-tank the Institute for International Political Studies, ISPI, and the foreign ministry.

"The premise is we are very clear towards these member states, we will go on without them," the former Italian prime minister said.

He said he was worried about the continued stand-off with the two Eastern European nations but was also confident that it would be overcome through an agreement thanks to "the roads of diplomacy."

Latest comments

The opposing states are Merkel's puppets.
this is a classic of liberal mentality: we follow the rules and we demand others to follow the rules while this rules don't hurt our objectives. If the rules prevent us to do what we want, we break them without any regrets.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.