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Mr Sarkozy wants the EU to have a fund of "at least €20 billion" to be able to better respond to crises. (Photo: European Commission)

Sarkozy wants more EU crisis funding

EU Political
by Elitsa Vucheva,

French president Nicolas Sarkozy has called for an EU crisis fund for member states to be extended from €12 billion currently to "at least" €20 billion.

Mr Sarkozy - whose country currently holds the rotating EU presidency - will make the proposal to his EU counterparts when they meet in Brussels next Friday (7 November).

Currently, an EU "community mechanism" allows member states to receive medium-term loans from a common pot of €12 billion.

"I will propose on 7 November …t...

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EU Political
Mr Sarkozy wants the EU to have a fund of "at least €20 billion" to be able to better respond to crises. (Photo: European Commission)

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