Ursula von der Leyen, President of the European Commission, welcomed a proposal by France and Germany to advance the European economy after the Corona virus crisis.

According to Arabia Net, German Chancellor Angela Merkel and French President Emmanuel Macron previously proposed the creation of a 500 billion euro fund to advance solidarity and growth in the European Union.

"I welcome the constructive proposal put forward by France and Germany," said von der Lien, head of the European Union’s executive arm that will implement the plan.

She added that she recognized the scope and scale of the economic challenge facing Europe.

She added this is moving in the direction of the proposal that the Commission is working on, which will also take into account the views of all member states and the European Parliament.

She stated that the joint position between France and Germany is important because it will pressure the most hesitant member states in the European Union to contribute the additional funds needed to save the cost of the plan.

Europe has witnessed some of the worst effects of the epidemic, prompting heavily indebted countries like Italy and Spain to seek help from wealthier partners such as Germany and the Netherlands, according to Agence France-Presse.

> These countries refuse to enter into a major borrowing plan with their southern partners, whom they consider excessive and are reluctant to implement the necessary economic reforms.

A European official, who declined to be identified, said that to reach an agreement requires will and everyone will have to change their positions.

The source added that the recent statements of German Chancellor Angela Merkel will help in getting the matter done.

German Chancellor Angela Merkel and French President Emmanuel Macron confirmed that the European Commission has the authority to borrow on behalf of the European Union to finance the recovery plan.

Macron and Merkel held a video conference before they held a joint press conference to present the German-French initiative related to the Corona crisis.

The issues of health, economic recovery, the environmental and digital transitional process, and industrial sovereignty will be addressed.

In Berlin, the German chancellor made it clear that Merkel would discuss with Macron and hold a press conference on the Franco-German initiative for the economic advancement in Europe.

In a May 8 phone conversation, the two officials stressed the urgent need, more than ever, for the European commitment.

The European Commission is providing a tool for economic recovery on the 27th of October in Brussels supported by the ability to borrow 1000 billion euros to get the union out of stagnation due to the emerging Corona virus.

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