The heads of government of the EU countries will hold a video conference on the corona crisis on April 23.
The virtual summit will mainly focus on setting up a temporary recovery fund to get the economy back up in all Member States. EU President Charles Michel announced this.
Michel sees the agreement that EU finance ministers concluded on Thursday worth 540 billion euros as an essential breakthrough to tackle the corona crisis jointly. “The compromise aims at rapid, targeted relief,” said Michel.
Ministers have also agreed to establish a temporary recovery fund for the period after that, with “innovative financial instruments”.
According to Minister Wopke Hoekstra, there is no question of joint debt (Eurobonds), but how the fund will be filled is left to the government leaders.
Michel will work this out with President Ursula von der Leyen of the European Commission. Both want the EU’s multi-annual budget to be dominated by the economic recovery.
Together they will draw up a “roadmap” and an “action plan” to restore the EU to sustainable growth based on a “green and digital strategy. It is time to lay the foundation for a robust economic recovery,” said Michel.