EU recovery fund deal hailed a ‘national success’ as Greece to receive €72 billion

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Prime Minister Kyriakos Mitsotakis has hailed the new European Union deal on a post-pandemic recovery fund as a “national success”. The deal, agreed on Tuesday, allocates Greece around 72 billion euros ($82.38 billion) to help deal with the fallout of Covid-19.

European Union leaders agreed after four days of talks to a 750 billion euro recovery fund to help members’ economies blighted by the coronavirus pandemic. Mitsotakis said the fund gave all EU members an important financial tool.

“Today we have managed a very ambitious response, a response which responds to the symmetrical shock which the pandemic has triggered in all economies,” Mitsotakis said.

He said the funds would be disbursed carefully in Greece and with meticulous planning.

“We have no intention of spreading the money around with the carefree attitude of the nouveau-riche,” Mitsotakis said.

“We have no intention of wasting this significant European capital now at our disposal. We will invest it to the benefit of all Greeks.”

French President Emmanuel Macron also hailed the new deal, saying it followed long and difficult negotiations, during which concessions had to be made to win over member states whose objections were blocking a deal.

But the concessions were proportionate, and necessary to deliver a recovery plan big enough to be effective, he added.

“There is no such thing as a perfect world, but we have made progress,” Macron told a news briefing.

Sourced By: Reuters

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