Economics

Merkel, Macron Back $543 Billion Fund for EU Crisis Recovery

Plan calls for joint borrowing and need-based distribution
When Germany and France act, the EU listens, Merkel says

Workers mop the floor inside a Bavarian-themed beer hall ahead of reopening in Berlin on May 14.Photographer: Krisztian Bocsi/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Arne Delfs, Ania Nussbaum, and Jasmina Kuzmanovic

May 18, 2020 at 3:02 PM UTC

Updated on

May 18, 2020 at 5:15 PM UTC

This article is for subscribers only.

Sign up here for our daily coronavirus newsletter on what you need to know, and subscribe to our Covid-19 podcast for the latest news and analysis.

Germany and France agreed to support a 500 billion-euro ($543 billion) fund, backed by debt, to help the European Union weather the worst recession in living memory.