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EU Commission president Ursula von der Leyen and Portugal's prime minister António Costa in Lisbon, with the freshly-approved recovery plan (Photo: European Commission)

EU countries can start 'going to the bank' for recovery funds

"Now I can go to the bank?," asked Portuguese prime minister António Costa to EU Commission president Ursula von der Leyen, as the EU executive approved his country's national Covid-19 recovery plan.

"You can go to the bank," quipped von der Leyen in response.

The comments are likely to cause some wincing in the capitals of the so-called 'frugal' EU countries, which have been frustrated with the idea of subsidising spending by what they see as less fiscally-disciplined southern...

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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.

EU Commission president Ursula von der Leyen and Portugal's prime minister António Costa in Lisbon, with the freshly-approved recovery plan (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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