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Expressing his thoughts on the EUR500 billion (446.98 billion pounds) European Union (EU) Recovery Fund proposed by Germany and France on Monday, the German Finance Minister Olaf Scholz told reporters, said the fund will enable the EU to grow out of crisis together and become stronger.

Key quotes

“When the lockdown phase ends, we need to ensure that Europe recovers and that’s why we’ve already discussed the need for a recovery fund – the discussion is ongoing and it’s good for the necessary consensus in Europe that Germany and France are making a joint proposal on this issue.”

“This new 500 billion euro fund will make it possible for Europe to grow out of the crisis together and become stronger – I think that’s a very good message not only for the economy and jobs but also for the future of the European Union.” 

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