Portuguese PM backs Franco-German recovery fund proposal

0 Comment(s)Print E-mail Xinhua, May 21, 2020
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LISBON, May 20 (Xinhua) -- Portuguese Prime Minister Antonio Costa said on Wednesday that the majority of the European Union (EU) member states need to win over a reluctant minority to move forward and resolve the crisis caused by the COVID-19 pandemic.

"We have to overcome the resistance of four countries that are blocking the European Council's decision. The European Council must live up to the needs of Europe and the four countries cannot paralyze the majority will of 23," he said in a speech in Parliament.

Costa addressed his criticism to the Netherlands, Austria, Denmark and Sweden in defense of the EU's internal market and the Economic and Monetary Union, local media reported.

"Either all of us come out of this crisis together or nobody leaves," he argued.

According to Costa, the European Commission and the European Central Bank have acted strongly and quickly.

The problem, Costa said, is that in the European Council the reluctant countries object to the recent Franco-German proposal to create a 500-billion-euro (549 billion U.S. dollars) fund to reactivate the economy.

Under the plan supported by the Portuguese prime minister, this sum would reach the countries in the form of direct transfers and not as loans, which is opposed by some European countries.

"We still have some questions regarding this program but, above all, we have to overcome the resistance," Costa argued. Enditem

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