Mr Charles Michel

Von der Leyen said the recovery plan would enable the EU to overcome the crisis in a resilient, sustainable and digital manner. “For common success, we must stay focused on the big picture. We must all pull together, we cannot afford any delay.” The Commission will discuss a 750 billion euro rescue fund which will cushion hard struck European economies via a mixture of loans, grants and mutualized debt. The objective will be to raise funds in financial markets which will be repaid between 2028 and 2058. However, all EU member states need to back the proposal crafted by French President Emmanuel Macron and German Chancellor Angela Merkel to go ahead. The commission is aiming to reach an agreement and close the pact in July so the Euro Chamber can give its approval and the national ratification processes can conclude this year.