UNION-SOMMET-ACCORD-LE-MAIRE: EU: For Le Maire, the agreement marks the birth of a “new Europe”
PARIS (Reuters) – The agreement reached at dawn on Tuesday by the leaders of the Twenty-Seven on a massive stimulus plan for the European economy marks the birth of a new, more united Europe, welcomed the French Minister for the Economy, Finance and Recovery, Bruno Le Maire.
The leaders of the Twenty-Seven agreed on Tuesday at dawn, at the end of a marathon summit of more than four days in Brussels, on a plan to revive a European economy weakened by the economic repercussions of the crisis health related to the coronavirus, endowed with 750 billion euros, divided between 390 billion euros in subsidies and 360 billion euros in loans.
“It’s a nice agreement, it’s a good agreement and it is the birth certificate of a new Europe so it is indeed a historic day because for the first time in its history Europe accepts to raise debt jointly (…) to give money to member states so that they can rebuild, revive their economy, “Bruno Le Maire said on franceinfo.
“It is the birth certificate of this new Europe which will be more united, greener and then more Franco-German”, he added, pleading once again for an acceleration of the decision-making processes of the authorities of the ‘European Union.
“Europe must be able to decide as hard as this morning but more quickly”, underlined Bruno Le Maire, reiterating his call to abandon the rule of unanimity in favor of the qualified majority for decisions on taxation.
40 BILLION EUROS IN SUBSIDIES FOR FRANCE
Bruno Le Maire also specified that France would obtain 40 billion euros in subsidies from this European recovery plan, which will help finance the national recovery plan.
“The revival is now, there is not a moment to lose so we now have 40 billion additional euros that we will be able to add to the money of the French budget (…) to the inside the 100 billion “planned for the national stimulus plan, he explained.
Beyond the measures already in place since the start of the health crisis to support a French economy penalized in particular by nearly two months of confinement, the last part of the national stimulus measures will be part of this 100 billion recovery plan. euros which will be presented on August 24 in the Council of Ministers.
This text will provide for spending for employee training, for business investment, as well as for ecological transition, up to 30%, noted Bruno Le Maire.
(Myriam Rivet, edited by Blandine Hénault)
Video: Brussels Summit: “The plan of unprecedented scale on the European level has almost been completed” (France 24)