Emmanuel Macron and Spain’s Pedro Sanchez insisted that any aid would need to be grants, not loans
which would just contribute to member states’ debt load, officials said.
“There will certainly be a sound balance between grants and loans and this is a matter of negotiation within the group,” European Commission President Ursula von der Leyen said.
The commission was asked to come up with a compromise proposal by May 6
Bloomberg 23 April 2020
EU fails to settle rifts over size and shape of ‘recovery fund’
Guy Verhofstadt, a former Belgian prime minister who is now an MEP, said piling more loans on embattled countries risked causing a “new sovereign debt crisis”. “Grants are like water in a fire fight while loans are the fuel,” he said.
Ms Merkel insisted that any funding borrowed on the markets must ultimately be paid back. There were “limits” on what kind of aid could be offered, she told leaders, adding that grants “do not belong in the category of what I can agree”.
FT 24 April 2020
– Tillsammans med våra likasinnade länder har jag i dag framfört de krav vi ställde på den här fonden. Den ska vara begränsad i tid och omfång, det ska vara lån och inte bidrag och den ska leva upp till högt ställda krav på effektivitet och återbetalning, säger Löfven.
SvT 23 April 2020
“There will certainly be a sound balance between grants and loans and this is a matter of negotiation within the group,” European Commission President Ursula von der Leyen said.
The commission was asked to come up with a compromise proposal by May 6
Bloomberg 23 April 2020
EU fails to settle rifts over size and shape of ‘recovery fund’
Guy Verhofstadt, a former Belgian prime minister who is now an MEP, said piling more loans on embattled countries risked causing a “new sovereign debt crisis”. “Grants are like water in a fire fight while loans are the fuel,” he said.
Ms Merkel insisted that any funding borrowed on the markets must ultimately be paid back. There were “limits” on what kind of aid could be offered, she told leaders, adding that grants “do not belong in the category of what I can agree”.
FT 24 April 2020
SvT 23 April 2020
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