Thursday's European Union summit will not decide on a recovery fund for the coronavirus emergency, EU sources said Tuesday.
The summit, they said, will back the Eurogroup's decision on a 540 billion euro recovery plan, but "it won't give all the answers on the numbers of the next EU budget or on what innovative instruments will be fielded to give a response", such as a recovery fund or coronabonds. "All this is an ongoing process", and such instruments "will not be discussed at this summit", the sources told ANSA.
Italy is still pushing for coronabonds and is against the use of the European Stability Mechanism (ESM), while Spain has just proposed perpetual bonds, an idea also espoused by financier and philanthropist George Soros.
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