Merkel: EU needs €0.5 trillion fund to rebuild economy

The authorities of Germany and France proposed the establishment of a 500 billion euro eurozone recovery fund. This was announced today, May 18, by German Chancellor Angela Merkel. Recall that the coronavirus pandemic led to a large-scale economic crisis on a planetary scale. Millions of people because of coronavirus are forced to sit home in self-isolation mode, which has caused them to consume much less goods and services. Many enterprises, including in the service sector, also had to be stopped due to the pandemic. The developed countries of the West, especially the EU and the US, are solving economic problems by printing large amounts of money and distributing them either in the form of direct subsidies or in the form of interest-free or low-interest loans.