Germany warned that disputes over the governance of the European Union’s virus recovery fund make it almost inevitable that it won’t be operational by the Jan. 1 target date, raising the risk of setbacks in the flow of much-needed funds to the continent’s battered economies.
“Delays with consequences for Europe’s economic recovery will most likely be unavoidable,” German ambassador to the EU, Michael Clauss, said in a WhatsApp message sent from his spokesman. Germany, which holds the rotating presidency of the EU until the end of the year, is coordinating talks related to the bloc’s 1.8 trillion-euro ($2.1 trillion) recovery fund and long-term budget.
