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What are the details of the European recovery fund proposed by Germany and France?

May 21, 2020
GZERO Media
TITLE PLACEHOLDER | Europe In :60 | GZERO Media

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What are the details of their French and German, European recovery plan?

Well, skip the details for the time being, the real proposal has got to come from the Commission on the 27th. But it's going to be a mix of normal budget funding and then it's got to be the European Commission allowed to take up a loan, and then to distribute part of that money to the different affected countries according to certain criteria. Lots of details yet to be worked out. But the essence has got to be roughly that, I suspect.

What's the consequence of what's happening in France with Macron's party now losing the parliamentary majority?

Well, I suspect not too much. France is very much the precedent for the republic. And as long as he stays roughly the course that is due now, I don't think you will see any sort of major significance that affects the broad outlines of French policy.

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