Thursday

28th Mar 2024

Ticker

EU Commission proposes €750bn recovery fund

The EU Commission will propose on Wednesday a €750bn recovery package, economics commissioner Paolo Gentiloni said in a tweet, calling it a "turning point" in the Covid-19 crisis. It comes on top of the one-trillion euro EU budget and the €540bn already agreed in financial support to EU countries. German press agency, DPA, reported that €500bn of that will be distributed to member states via grants and €250bn through loans.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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