PARIS (Europe) – Bruno Le Maire, France’s Finance Minister, hoped the European Union could reach a deal regarding the planned 750 billion euros economic recovery package within the next few weeks.
The blueprint will be a major milestone in the half-century of European integration with mutualised debt as a major funding tool paving the way for greater EU powers of taxation.
The northern countries, known to be fiscally conservative, have resisted pressure from other EU members to take on mutual debt to protect the EU’s 450 million people strong single market from being splintered by divergent economic growth and wealth levels.
(Photo syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.
