Merkel: 2nd summit may be needed on EU stimulus package
BERLIN (AP) — German Chancellor Angela Merkel said Monday that “bridges still need to be built” between European Union countries at odds over a stimulus package for Europe's pandemic-stricken economies and a second meeting may be required if a summit this week doesn't result in an agreement.
Merkel told reporters that the economic crisis triggered by the pandemic requires a “big answer” and that the way the EU responds has a “political dimension.”
The leaders of EU member nations are preparing to gather in person on Friday and Saturday to thrash out a compromise on a one-off, 500 billion euro ($569 billion) stimulus package proposed by Germany and France. The debate has been linked to a discussion on the 27-country bloc's long-term budget.
Much of the stimulus money would go to help countries that were hardest hit by the virus and its economic impacts, such as Italy and Spain. Some fiscally conservative EU countries oppose the French-German plan because it would entail borrowing by the bloc as a whole for the first time.
Merkel spoke at the German government's guest house near Berlin alongside Italian Premier Giuseppe Conte, who called for “quick action,” warning that any delay would slow down Europe's economic recovery.
