the President of France Emmanuel macron said that the European response to the economic crisis caused by the pandemic coronavirus, should be not only loans but also other cash transfers to the most affected regions, reports Reuters.
the Head of state after the online meeting of EU leaders said that the aid package for recovery of the economies of the countries that suffered the greatest losses, should be from five to ten percent of the combined GDP of EU members.
macron also stated that the disagreement over size of the allocated aid between European countries still exist and the European project will not have a future if they can’t handle this “exceptional distress”. But even more fierce the debate is the question of the form in which support will be provided. The EU can’t decide between grants and loans.
the French leader believes that the support in the form of loans will be counterproductive, as it will only increase the total debt of the countries most seriously affected. “This will not solve the underlying problems,” he added.
At the moment in the world recorded more than 2.6 million cases of infection with coronavirus. A total of about 187 thousand people died in the pandemic.
