EU’s Gentiloni: Italy should now spend EU money for recovery but should keep debt under control

Italy should now spend the EU money for recovery but in mid-term should keep debt under control to not end up in difficulty later, said the European Union (EU) Economic Commissioner Paolo Gentiloni a day after the EU Summit on the recovery fund.

This comes after the European Commission proposed a recovery fund of €750 billion on Wednesday, which is compiled to repair the economic damage caused by the coronavirus pandemic.

While presenting the proposal, the Commission President Ursula von der Leyen said, "this is Europe's moment".

In the last hour, French Finance Minister Bruno Le Maire said, he hopes the deal on the proposed plan can be reached in the coming weeks.

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