Recovery Fund, the EU aid plan will be worth 750 billion. Italy will receive 172.7 of which 81.8 with non-refundable funds: it is the largest slice

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There EU Commission proposes a Recovery Fund from 750 billion euros. To anticipate what will be the endowment of anti-crisis plan dell ‘European Union is the commissioner for economics Paolo Gentiloni which speaks of a “European turning point to face an unprecedented crisis”. Pending the announcement of the president Ursula von der Leyen, according to the German agency Dpa, which cites sources close to the dossier, the package will consist of 500 billion grants and 250 billion euros of loans.

It would be up to Italy 172.7 billion: 81,807 would be paid as aid and 90.938 billion like loans. The figure represents the higher altitude intended for a single country, both in absolute terms and as regards grants and loans. At the Spain, which has the second thickest slice, would be destined 140.4 billion, divided between 77.3 billion of aid and 63.1 billion of loans.

The proposal of the EU Commission foresees the fund-raising on the market, supported by indirect guarantees Member States and jointly reimbursed during decades, a controversial move, also in light of theopposition already expressed by “Frugal” countries, because it requires theirs unanimous approval. The ‘non-refundable’ figure coincides with the proposal developed by the French president Emmanuel Macron and the German chancellor Angela Merkel.

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