Online meeting with EU colleagues: Scholz wants to make Corona-billion-Plan quickly to start

Online meeting with EU colleagues
Scholz wants to make Corona-billion-Plan quickly to start

Federal Finance Minister Olaf Scholz wants to get in the European Union’s 750 agreed-billion-Plan against the Corona-crisis in time of the beginning of 2021 clear.

With his EU colleagues he wanted to reach today, therefore, a political agreement on the rules and Details of the building plan, said the SPD-politician in front of an Online conference of economic and Finance Ministers. “Europe must come up with strength from the crisis.”

The EU countries had agreed in July on the debt-financed billion plan that mitigate the effects of Corona-economic crisis and at the same time climate-friendly and digital modernization of the economy will bring. Its heart is a reconstruction Fund, over 90 percent of the funds will be distributed is.

Now it is, among other things, what are the conditions for access to the money are to be observed. The EU countries need to reform plans, and approve. The money will be paid out in stages. 390 billion euros will flow as grants to the recipient States has not even paid back, but as a common EU debt will be repaid. Additional 360 billion euros of loans available.

In addition, the Ministers will talk about the proposals of the EU Commission on the digitisation of the financial market. A Central point in this new, fast payment methods in the retail trade. To reduce the dependence of Europe is about global credit card companies. The Commission has also made a proposal for the regulation of so-called crypto – and digital currencies, with the help of the Minister concerned.

Scholz chairs the meeting in the framework of the German EU-presidency. Actually, the Ministers were meeting in Luxembourg. Because of the Corona-crisis conference will be held online.