Mixed response to Europe’s €540 billion Covid-19 bailout fund – The National

Mixed response to Europe’s €540 billion Covid-19 bailout fund – The National

French finance minister Bruno Le Maire praised the deal as the most important plan in economic history. A €540 billion bailout fund agreed by the EU's finance ministers in response to the Covid-19 crisis has received a mixed reaction from officials across the continent.. After several failed attempts, the Eurogroup of EU finance ministers on Thursday agreed an unprecedented economic package to support member states, companies and workers during the coronavirus pandemic.. Under the plan, the Luxembourg-based European Safety Mechanism will provide loans for states, the European Investment Bank will provide company loans and workers will be provided loans via SURE, the European Commission's new financial instrument.. His French counterpart Bruno Le Maire praised the agreement as the most important plan in economic history.. "The €540 billion to deal with the crisis is a package far short of the real need for immediate support for the European economy," he said on Twitter.. "I think that many Italians would be willing to bet on Italy, rather than waiting for the German or French multinational to arrive," he added.. Marathon talks with Eurogroup ministers fell apart after a 16-hour conference call on Wednesday as Italy and Netherlands were at loggerheads over how