Lagarde Urges EU to Consider Recovery Fund as Permanent Tool

European Union leaders should consider whether the region’s 750 billion-euro ($878 billion) recovery fund could be made a permanent tool, according to European Central Bank President Christine Lagarde.

“This recovery plan tool is a response to an extraordinary situation,” she said in an interview with France’s Le Monde newspaper published on the ECB’s website Monday. “We should discuss the possibility of it remaining in the European toolbox so it could be used again if similar circumstances arise.”