Germany's Merkel: We need a European recovery fund
|"We must act in a European way so that we get out of this crisis well," Germany Chancellor Angela Merkel said on Monday. "We need a European recovery fund, Germany and France discussed this today," Merkel added.
Additional takeaways
"Recovery fund must contribute to the goal that all member states have the means to get out of the crisis."
"Proposed European recovery fund should have a volume of 500 billion euros."
"Recovery fund should give grants, no loans to member states."
"It's crucial that EU bonds will be paid back via the EU budget, national parliaments will have to give the green light."
"There is a possibility of EU treaty changes in the longer run, but now it's about agreeing on short-term measures."
Market reaction
Germany's DAX 30 continues to push higher and was last seen gaining 4.2% on the day at 10,904 points.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.