ECB urges quick approval of COVID-19 recovery fund
Jerome Hughes
Press TV, Brussels
People living in the 19-country eurozone are facing a very uncertain future thanks to the coronavirus pandemic. The European Central Bank, which manages the euro, says consumer spending has slumped and business investment is not happening.
Christine Lagarde was referring to a proposed €750bn COVID-19 recovery package. EU leaders meet this weekend to try and iron out their differences regarding the fund. The financial support is essential as the future of the bloc's youth is in danger, experts warn.
A major contributing factor to the economic uncertainty in the EU relates to the possible re-election of eurosceptic Donald Trump. That's according to leading economists.
Think about the people. That is precisely what unions and civil society organisations are pleading with EU leaders to do as they meet face to face this weekend to debate a financial support package.
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