Merkel and Macron Will Discuss European Recovery Fund on Monday

(Bloomberg) -- German Chancellor Angela Merkel and French President Emmanuel Macron on Monday will discuss a range of topics, including a new recovery fund to help the European Union weather the worst recession in living memory, according to an official familiar with the plan.

The meeting, which will take place by video conference, will start at 3:30 p.m. Paris time. The official asked not to be identified because the agenda hasn’t been publicly released.

The European Commission, the bloc’s executive arm, floated a 2 trillion-euro ($2.4 trillion) plan last month that would have seen the EU borrow 320 billion euros in the capital markets. Countries are still negotiating the ultimate size of the fund and how much would be available as grants, versus loans.

Merkel and Macron will address reporters at 5 p.m.

©2020 Bloomberg L.P.