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Budget commissioner Johannes Hahn called on member states to speed up the ratification process (Photo: European Commission)

Commission waiting on 10 states for recovery bonds

The EU Commission plans to borrow at least €150bn every year until 2026 to finance the bloc's recovery fund to help the European economy rebound from the Covid-19 pandemic, the EU executive said Wednesday (14 April).

It means the commission plans to raise around €800bn on the capital markets to finance the recovery.

EU leaders last year agreed on an unprecedented €750bn package - that is in 2018 prices (as part of the 2018 budget counting process), which in current prices now to...

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Author Bio

Eszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.

Budget commissioner Johannes Hahn called on member states to speed up the ratification process (Photo: European Commission)

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Author Bio

Eszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.

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