Spain Will Work to Improve German, French Proposal, Calvino Says

(Bloomberg) --

The proposal made by Germany and France for a 500 billion euro aid package “is a truly important agreement,” according to Spanish Economy Minister Nadia Calvino.

“It’s an important step in the right direction,” and is aligned with what Spain and Italy have been requesting, Calvino said in an interview with Spanish radio Cadena Ser Tuesday. “It is important that the four main countries in the union be in agreement and have a shared vision on how to overcome the crisis” but the proposal still needs wider support and “we will work to improve” it, she said.

Germany and France yesterday agreed to support the package, which would be funded by additional borrowing by the EU and would make grants to member states that have been hardest hit by the virus.

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