france and germany are proposing a european recovery fund worth more than $500 billion. regions hardest hit. police in myanmar have seized what's been described as south east asia's biggest ever haul of synthetic drugs. crystal meth and heroin were among the substances found in raids in northeast shan state.

come to an agreement with those 4 points the most important of the 4 points being this european union recovery fund i was just there towards the end we heard a minimum a call saying that europe needs real european solver and we heard from chancellor merkel that saying there that we have to talk about what didn't work during this crisis and we may need to change the european treaty what do you think she's talking about there will this give you again an idea of why i described it as something being ambitious we're not only talking here about money that's going to be spent or given to particular sectors that have been badly affected we're talking about something more ambitious than that and that's precisely why i'm going to merkel was stressing that that's also precisely why i'm on way my call also mentioned that at the end of his own statement we're talking here about this recovery fund 500000000000 euros which comes on top of 500000000000 euros and had already been agreed to by the finance ministers of the european level again the idea behind all this is a targeted restricted money that's going to b

france and germany are proposing a european recovery fund worth more than half a trillion dollars. and regions hardest hit. the mayor of brazil's biggest city, sao paolo, says hospitals are on the brink of collapse. official figures show less than half of its residents are observing social distancing rules to stem the virus. you are watching bbc news.

france and germany have proposed a european recovery fund worth more than $500 billion. with president emmanuel macron, chancellor angela merkel said the bloc should act so countries get out of the coronavirus crisis "well and strengthened." the fund would offer grants to the countries and regions hardest hit. the supreme court in el salvador has ordered the immediate suspension of the state of emergency declared by the president. he has been accused of exceeding his powers. he had ordered the state of emergency on saturday, when previous orders were set to expire, without congressional approval. clubs in the english premier league have voted unanimously to let players restart training in small groups, and without any contact, from tuesday. the season was suspended in mid—march, and while they'd like to restart games onjune 12th, it's widely thought this will need to be pushed back. praise and fierce criticism have been heaped on the world health organization. the online meeting of its governing assembly was attended by more than 190 countries with china pledging $2 bill

we will be bold by raising unprecedented amounts of funding and european level the european commission wants to raise a $750000000000.00 euro recovery fund but now the real work begins convincing all 27 e.u. members to agree also coming up riot police on the streets in hong kong as the territories government debates a law that would make it a crime to insult the chinese national anthem. i'm going to cross welcome to the program we begin in brussels where the e.u. may be on its way to forming a more perfect union european commission president. has proposed a 750000000000 euro relief fund to help the bloc bounce back from the coronavirus pandemic the bun the money much of it grants would be raised as common debt borrowed by the commission on behalf of the e.u. members that's a controversial idea in the e.u. and it may not be easy getting the unanimous agreement. required to make the plan a reality. the european union's massive recovery funding plan is aimed at helping member states hardest hit by the pandemic italy and spain will get the lion's share the commission president in brussels keen to play out europe's united approach the a

france and germany are proposing a european recovery fund worth more than half a trillion dollars.resident emmanuel macron and chancellor angela merkel said the fund would offer grants to the countries and regions hardest hit. the mayor of brazil's biggest city, sao paolo, says hospitals are on the brink of collapse. official figures show less than half of its residents are observing social distancing rules to stem the virus. you are watching bbc news. let's now hear more of what the foreign secretary, dominic raab had to say in today's daily briefing from downing street on the coronavirus. good afternoon, and welcome to today's downing street press c0 nfe re nce . i am pleased to be joined byjonathan van—tam, our deputy chief medical officer. i will start with a daily update on the latest data on coronavirus. 2,000,680 tests for coronavirus have not been carried out in the uk, and that includes 100,678 tests carried out yesterday. 246,406 people have tested positive, and that is an increase of 2,684 cases since yesterday. 9,408 people are currently in hospital with coronavirus, wh

france and germany have proposed a european recovery fund that would distribute more than half—a—trillionould gradually be repaid through the eu budget, although the deal will have to be agreed by other european countries. the bbc‘s tim allman reports. in munich, the beer gardens are finally reopening. plenty of restrictions are still in place, but it's a sign the german economy is slowly coming back to life. the lockdown has had a devastating impact, and now, the european union's two richest members are proposing a potential way forward. translation: europe must stand together, which means we need to aim for a swift economic recovery, and that is why we want to set up an open—and—shut fund to the sum of 500 billion euros. we're convinced this is not only justified, but also necessary to make money available on a european level. in what looks like something of an about—face, angela merkel, along with emmanuel macron, is proposing a fund of 500 billion euros, which, crucially, will be given out in the form of grants rather than loans. the money will be raised by the european commission, bo

we will gettic that this european recovery fund. temporary.it will be it will be limited in time.nginteresting this is the group leaders [indiscernible] whye are two main reasons the party had a change of heart. want to show european solidarity. -- one to show european solidarity. there was also a clear portion of self interest for the other european countries. nejra: absolutely. wolfgang schaeuble backing that recovery plan as a key voice to the standoff we will talk more about that next. carsten possessed key stays with us -- carsten brzeski stays with us. this is bloomberg. ♪ nejra: this is a bloomberg surveillance. in london, carsten brzeski is still with us. just before the break, we were talking about the 500 billion euro economic recovery plan proposed by france and germany. you said you were feeling more optimistic that a compromise might be reached. does that take pressure off the ecb to expand its bond buying in june? carsten: not really, to be honest. will onlyry front become effective as of 2021. the ecb's ppp program, the pandemic qe program. there won't be anything l

funding at the european level. >> urszula unveiling a 750 billion euro recovery fund. every european union country must approve the plan. one of the chances of that? also, coming up, police in hong kong as a territory's government debates a law that would make it a crime to insult the chinese national anthem. plus, kenya pot anti-coronavirus prescription for the homeless, a serving of blue of jet fuel for breakfast. d-30 minutes and counting at cape canaveral in florida. the crowds of gather to watch the u.s. launch private enterprise into outer space. ♪ i am brent goff. welcome. the european union is considering an unprecedented plan and an unprecedented expensive plan to return to normality after the pandemic. european commission president urszula today unveiled a 750 billion euro plan dealt member states bounce back. much of it will be funded by common european union debt, a new approach proposed by germany and france. she described it as an ambitious answer to the challenge and said the european union faces the choice of member states going it alone, or responding t

france and germany are proposing a european recovery fund worth more than $500 billion.resident emmanuel macron and chancellor angela merkel said the fund would offer grants to the countries and regions hardest hit. police in myanmar have seized what's been described as south east asia's biggest ever haul of synthetic drugs. crystal meth and heroin were among the substances found in raids in northeast shan state. hello, and welcome to our look ahead to what the the papers will be bringing us tomorrow. with me are polly mackenzie, chief executive of centre—left political think tank demos, and sebastian payne, whitehall correspondent at the financial times. tomorrow's front pages, starting with. .. a hopeful lead story on the front page of the times, which reports on potential plans for "air bridges" between countries this summer. the transport secretary, grant shapps, says quarantine on all arrivals into the country could be relaxed, with deals between countries with low coronavirus infection rates. the telegraph is leading on the same story, and says quarantine—free trav

the bolt by raising i'm president it amounts of funding to european the european commission president of underlying and unveiling a 750000000000 euro recovery fund to every e.u. country must of prove the plan what are the chances of that happening also coming up tonight u.s. president donald trump threatening to shut down social media networks such as twitter after cast doubt on the credibility of several of his tweets and the u.s. launching a new chapter in manned space travel with the 1st manned takeoff from u.s. soil since the space shuttle western call almost a decade ago. i'm burnt off it's good to have you with us tonight the european union is planning a route back to normality after the coronavirus pandemic european commission president or so fun to lie in today unveiled a 750000000000 euro plan to help members of the european union balance back much of it will be funded by common e.u. debt a new approach proposed by germany and france and a lie in describing the fund as an ambitious answer to the challenge and she said that the european union faces the choice of member states going it alone or responding together. the european union

fund. so the challenge and said the european union face a choice of member states going it alone or responding to. the european union's massive recovery funding plan is aimed at helping member states hardest hit by the pandemic italy and spain will get the lion's share the commission president and brussels keen to play out europe's united approach the a must be to invest together in our common good we will be bold by raising unprecedented amounts of funding at european level we will be focused by channeling the funding to the new priorities that will shape the future. in practice it's germany and france which are driving the plan and will provide most of the money german chancellor angela merkel for the 1st time accepting joint e.u. debt as part of a mutual recovery strategy. is of course this proposal contains elements of both what was discussed between germany and france as well as elements of the guarantees and loans that were mentioned by 4 other countries. and now we start negotiating with $400.00 a group of northern e.u. countries known as the frugal for the netherlands led by prime minister mark ritter plus austria denmark and

economies from the pandemic the european commission wants to raise a 750000000000 euro recovery fund but 1st they have to get all 27 members to agree . also. i'm wind blow kroft well to the program we begin in hong kong where riot police have fired pepper pellets a pro-democracy protesters and arrested more than 300 people demonstrators were out on the streets to protest a new proposed bill criminalizing disrespect for china's national anthem hong kong lawmakers are expected to pass the law next month. thousands of hong kong residence defied police orders and took to the streets demonstrating for their independence and against china's efforts to tighten its grip on the semi autonomous region the protesters were met by a strong police force which fired pellets filled with pepper to disperse the crowds and arrested hundreds one of the residents concerns a bill threatening anyone who disrespect the chinese national anthem with up to 3 years in prison. i'm worried about the national anthem law i know it will pass in the legislative council because pro stablished that lawmakers have a maj

a recovery fund however it will likely be part of a bigger programme adding up easily toi bigger programme adding up easily to i trillion euros. recovery fund plus a few other things which the europeandirecting money which the european commission, the european commission, the european union was meant to spend anyway to come up properly with something like i trillion euros overall. how difficult are countries like france and germany to get everybody in the eu on board to have consensus? it is extremely difficult but that is part of the course for the european union and many other institutions in the world. there will be heated negotiations about it but, in the end, i think of members realise they have to do something together so probably by the end of the year we will have the final shape of this. i do not think that injune we will be able to agree to the details but, with the european commission properly backing the german— french idea, we are likely to see in the end something not to do similar to what ursula von der leyen will propose today. will creditors be more likely to expand funding to countries like italy and spain? we have already seen attendance, especially in the italian

france and germany have proposed a european recovery fund that would distribute more than $500 billione countries worst—affected by coronavirus. the money would gradually be repaid through the eu budget, although the deal would have to be agreed by other european countries. the bbc‘s tim allman reports. in munich, the beer gardens are finally reopening. plenty of restrictions are still in place, but it is a sign the german economy is slowly coming back to life. the lockdown has had a devastating impact, and now the european union's to riches members are proposing a potential way forward. translation: europe must stand together, which means we need together, which means we need to aim fora together, which means we need to aim for a swift economic recovery, and that is why we wa nt to recovery, and that is why we want to set up an open and shut fund to the sum of 500 billion euros. we are convinced this is not only justified, but euros. we are convinced this is not onlyjustified, but also necessary to make money available on a european level. in what looks like something of an about—face

funded by common e.u. debt a new approach proposed by germany and france. the european union's massive recovery funding plan is aimed at helping member states hardest hit by the pandemic it's early and spain will get the lion's share. the commission president in brussels keen to play out europe's united approach the aim must be to invest together in our common good we will be bold by raising unprecedented amounts of funding at european level we will be focused by channeling the funding to the new priorities that will shape the future. in practice it's germany and france which are driving the plan and will provide most of the money german chancellor angela merkel for the 1st time accepting joint e.u. debt as part of a mutual recovery strategy. is of course this proposal contains elements of both what was discussed between germany and france as well as elements of the guarantees and loans that were mentioned by 4 other countries. and now we start negotiating with $400.00 a group of northern e.u. countries known as the frugal for the netherlands led by prime minister mark ritter plus austria denma

europe -- we talking a lot today about the german bailout of lufthansa but in general, the european recovery fundmerkel and macron with borrowing. this make you want to bet on european stocks? early i think it is too to say that will come through partly because the infamous frugal for, i loved -- because the infamous frugal four our objecting to the idea of the recovery fund giving out grants suggesting they should be loans. . think it is petty squabbling if we moved to an environment where the eu as a body is issuing substantial amounts of debt because interest rates are so low, that moves the eu into a new paradigm. into thehat translates performance of individual eu country economies and underlying economies is -- underlying mpanies is difficult to say. we just spoke about lufthansa being blown about. if this is a positive move for the eu that consolidates the eu sovereignty through not just monetary union that into fiscal union as well, one could argue that makes it a stronger trading in tradeng forward with the u.s. and china and others. onethat would be good news would imagine for the europ

excitedurope, i am about the fact that we are finally looking at a european recovery fund, innocence,alization. essence,ry fund, in debt mutualization. but keep your eye on trump. alix: fairpoint. i want to highlight the bank of managerfund survey. one highlight is that 68% are still expecting a bear market rally, do your point that overall sentiment is still very cautious, and also bond allocations are at the highest since 2009, but it is the long u.s., short europe trade really dominating that. i wonder if you have to reverse that. look at europe, look at european debt. or do you stay in u.s. equities? paul: i think it is a really good point about u.s. versus europe. a lot of people have look at this trade over the last five years, and it keeps hurting because under trump, u.s. markets have done so well, but europe knows that this is their moment. they really need to get something done, or they are really risking populism when hopefully, this whole pandemic is really over. i think what we are seeing with france and germany leading here, i think this is a very positive development. ,

be bolt by raising christendom to monza funding as european member european commission the president of underlying and then bailing a 750000000000 euro recovery fund every emu country must approve the plan what are the chances of that also coming up why didn't police on the streets of hong kong give the territories government debates a wall that would make it a crime to insult the chinese national anthem. i'm burnt off it's good to have you with us tonight the european union is considering an unprecedented and unprecedentedly expensive way to return to normality after the pandemic european commission president or so if underline and has unveiled a 750000000000 euro plan to help member states bells back economically much of it will be funded by common e.u. debt a new approach proposed by germany and france. and describing the fund today as an ambitious answer to the challenge and she said that the european union faces the choice of member states either going it alone or responding to get. the game must be to invest together in our common good we will be bold by raising unprecedented amounts of funding at european level we will be focused by ch

effects of the virus far far outweigh this amount of money that the european commission itself at the moment is working on a plan for recovery fund for the european economy for when the pandemic is beginning to end and numbers for that have been bandied around up to 1.5 trillion euros 1500000000000 so whatever some it costs in the end to get of the vaccine and to get that vaccine around the world that is going to be something of a bargain richard walker with a view from brussels thank you. 3 research from a virus hotspot here in germany is shedding new light on the spread of the virus in the country a study from the hard hit district of heinsberg estimates that only one in 10 coronavirus cases in the country has been diagnosed now it's highlighted the dangers presented by all identified carriers as germany takes further steps to open back up again. the priority for these germans was pretty obvious queuing at the hairdresser's 1st thing on monday one basis for the discussion on further easing of the rules might be found in a new li published study on covert 9000 cases in the western german district of heinsberg it suggests that 18

of the virus far far outweigh this amount of money that the european commission itself at the moment is working on a plan for the recovery fund for the european economy for when the pandemic is beginning to end and numbers for that have been bandied around up to 1.5 trillion euros 1500000000000 so whatever some it costs in the end to get of the vaccine and to get that vaccine around the world that is going to be something of a bargain richard walker with a view from brussels thank you. and with nearly 29000 deaths italy is one of europe's states hard hit by the pandemic the country was the 1st in europe to impose a nationwide lockdown when its outbreak of raced out of control and march now after nearly 2 months italy is rolling back some of those restrictions. freedom. or at least the 1st cautious steps towards it being out in the fresh air is something many italians missed desperately during their 7 weeks of confinement within their own 4 walls they are now free to exercise outdoors and to visit relatives for the 1st time. we've got a bear up during the korean team we were desperate or i can express how excited i am. through

recovery fund will be made of one or the other or perhaps both. i have to say as well that we cannot forget the why the economic contempt of the european union we areng this proposal for the recovery fund. that is in addition to what the ecb is already doing and in addition to the 540 billion euros that union announced a couple of weeks ago. that is going to unemployment and activity and so on the measures we'll get to today is more medium to long-term and we'll actually see the implement and respect of how big this fund is at the start of 2021. >> stay with us, i want to bring our next guest, founder and ceo. thank you for joining us giving us a nice preview of what to look out for. do you see the main aspects of the french proposal being respect. namely its large size, the fact that it is funded by joint issuance and that it will be largely grants versus loans? >> yes the proposal came from the two biggest countries in the eu. i think the european commission will take that proposal very seriously. the expectation is that the main elements is carried through in the documents we've presented today. i think the key point here is that germany has rea

europe european recovery fund, look at what's happening to the euro it's pretty impressive for the firstime in many years, instead of waiting for mario draghi and christine lagarde to go to further negative rates, for the first time you're getting a coordinated response that's helping stabilize it they've been a drag for a while. >> that's a great point. rick, i really appreciate these conversations. makes me think, so thank you good to see you. >> thanks, becky. >> i hope we'll talk again soon. >> thanks. appreciate it. >> andrew? >>> coming up when we return, the reopening of america and the challenges facing the hospitality business ian schraeger is going to join us costco, the big box retailer stock falling after hours and missing estimates. the company reporting $283 million hit to net income costs. that's related to the pandemic quk"etnsig aer this it's hard to eat a whole pizza. but a slice is just right. that's why fidelity offers dollar-based trading. buy what you want based upon how much you want to spend, even if it's just a slice of a share. seeing the break in the clouds bef

certainly significant there's been vacillation going on for several weeks now european level about trying to agree of a recovery fund of some description and so far all it's been done by the european level is to create new loan instruments where this new fund differs if it goes ahead as france and germany propose is that it will give direct grants to regions and sectors which are in difficulty and now it's game changing because it means that there's the possibility of a region of italy or a regional spain or an industry receiving actual cash and not having to repay it to a neighbor to recover from a covert 19 locked up. it's not yet a done deal and it will face several obstacles because broadly speaking northern europe has been against such a fund and southern europe has been horrid friend sits on the borderline between north and south germany tradition has been very reluctant to engage in this kind of spending it seems knows who agreed that it will be up to the germans and the french to persuade their partners in particular the dutch the finns and the scandinavians that this is something that's worth doing. how is

european trading day this tuesday. chancellor merkel and president macron back a 500 billion euro recovery fund for the european union,l needs the support of all member states. we will speak to the eu vice president. president trump calls the world health organization a pundit of china, threatening to pull funds unless the reforms. the u.s. drugmaker moderna soars after positive results on a potential vaccine. shares to fund the development. futures looking more positive in the past half hour. matt: as we started the program 50 minutes ago, they were unchanged and now, we are seeing gains of more than 1%. looks like the optimism from yesterday coming back to european markets. u.s. futures are gaining almost 1%. they recovered from losses in our go when we list -- last look at the. the lithe equity trade out of the ftse and ibex typically the two first to open up. the ftse up .8% in london, the ibex up .9% in madrid. interesting to see futures turning so positive, not just across the continent, but across the ocean, as well in the u.s.. we are still seeing these equity indexes open up much higher, even with gains in th

of the hardest hit countries in europe with more than 236000 cases well the european commission is calling for a recovery fund of some $825000000000.00 to help the e.u. nations tackle the pandemic president delay and wants to transform the bloc central finances to allow it to raise money from capital markets it would then hand out grants and loans from member states but some countries including austria the netherlands denmark and sweden are opposed to taking on debt for other countries. the 1st space flight of nasa astronauts from u.s. soil in nearly a decade has been postponed because of bad weather the countdown was stopped around 17 minutes before the space x. falcon 9 rocket was due to lift off from the kennedy space center and florida the launch will be the 1st time a private company has sent astronauts into orbit well those are the headlines the news continues here after a very sicilian justice stay with us on al-jazeera. we're stalled on pushing the quick. body through bunkley input at least on a copy mash up it will mean the list u. don't show any. respect but question you could you not i j. a questio

it in context the european commission at the same time as this is going on in the background they are working on trying to devise a fund that will help the european economies recovery after the pandemic has eased and they're talking about every this is something that could be up to 1.5 trillion euros so that is 200 times as much as they're trying to raise today so that just put it in perspective the money spent on this kind of medical programs is really dwarfed by the economic and social cost of the crisis. a lot of g 7 countries taking part in this effort this video conference today notably absent is the united states who have even suspended funding of the w. word or will that affect the fundraising effort. yeah i mean the united states really incredibly conspicuous by its absence really just about everybody else is taking part in this event today it's not necessarily going to be a huge issue on the funding side because we just said it's not necessarily an enormous amount of money that they're looking for but in terms of international cooperation this is really a pretty stunning situation that we find ourselves in here what you have here is really virtually leader

there's been vacillation going on for several weeks now european level about trying to agree on a recovery fund of some description and so far all that's been done by the european level is to create new loan instruments where this new fund differs if it goes ahead as france and germany propose is that it will give direct grants to regions and sectors which are in difficulty and that is game changing because it means that there's the possibility of a region of italy or a region of spain or an industry receiving actual cash and not having to repay it to a neighbor to recover from the co it 19 locked up. it's not yet it done deep in it will face several obstacles because broadly speaking northern europe has been against such a fund and southern europe has been for it france sits on the borderline between north and south germany traditionally has been very reluctant to engage in this kind of spending but seems now to have agreed that it will be up to the germans and the french to persuade their partners in particular the dutch the finns and the scandinavians that this is something that's worth doin

good we will be bold by raising unprecedented amounts of funding and european level the european commission wants to raise a 750000000000 euro recovery fund.

recovery in a bid to put this crippling face behind them. in a joint news conference with the french president chancellor angela merkel stressed the coronavirus pandemic is endangering european unity. moster recovery that's why the fund has to help ensure that all countries in europe can react appropriately inspiration this requires an extraordinary one off effort also which france and germany are ready to undertake a funk i think but i think that if this is the result of bilateral work in cooperation with our partners i'm convinced that this plan provides the groundwork to revive our lives our economies and our societies. to offset the drastic decline in production transport and tourism across europe this development fund will get an injection of 500000000000 euros e.u. budget funds will be made available to the hardest hit regions and sectors. the overall plan is designed to strengthen the e.u.'s future viability of team dean and use of these resources will of course serve this purpose we will invest in digitization and the green deal to cope with the climate catastrophe stomach and that will inspire a new dynamic for the future in the field of health we will aim for cooperation to apply all we've learned from this

funding at european level. being commission president. unveils a 750000000000 euro recovery fund to help the book. on the program. by police in hong kong to start protests us the ivans government. does make it crime to insult the chinese national anthem. united states launched a fresh bid for dominance in space for the 1st manned takeoff from the u.s. since the last space shuttle 9 years ago. and dortmund needed a win to survive. the moment the title slipped through their fingers. celebrating after scoring what could be a decisive victory. and welcome to the program european commission president. has unveiled a plan worth 750000000000 euros to help member states. from the recession triggered by the coronavirus pandemic plan includes a 500000000000 euro and fund proposed by germany and france based on common in u. debt the doctor for the line described the fund as an ambitious answer to the challenge she also said the european union faces the choice of member states going it alone or responding to god the a must be to invest together in our common good we will be bold by raising unprecedented amoun

francine: coming together -- chancellor merkel and president macron back a 500 billion euro recovery fund for the europeanal still needs full support of all e.u. countries. u.s. drugmaker moderna soars after positive results on a potential vaccine for coronavirus. it is raising $1.3 billion in a share sale to fund the development. we will talk the race for a vaccine. and jay powell will tell the senate the fed is prepared to use its full range of tools to support the economy, this as traders bet the u.k. will have negative rates by year end. well, hello, everyone. this is "bloomberg surveillance." i'm francine lacqua here in london. tom keene in new york. and people say that micron and merkel -- that macron and merkel front run the commission with the 500 billion euro fund, but the excitement in the market was pretty short-lived. a lot of folks on moderna and the bizarre press conference, president trump when he was talking about taking hydrochloric between. -- hydroxychloroquine. tom: really, front and center here, besides the extraordinary market activity, francine, is the president's detailed and speci

bullshit by raising unprecedented amounts of funding at european level we will be a commission president was about funded line unveils a $750000000000.00 euro recovery fund to help the bloc ounce back from for such. also coming up riot police in hong kong moved to start the protests as the government moves to pass a law that would make it a crime to insult the chinese national anthem. i'm simply someone's got a couple have you with us european commission president was enough on the line has unveiled a plan worth 750000000000 euros to help member states bounce back from the recession triggered by the coronavirus pandemic the plan includes a 500000000000 euro fund proposed by germany and france based on common e.u. debt a funny line said the fund was an ambitious answer to the challenge she also said the european union was facing the choice of each country going it alone or responding together as a call. that caused a lot of the pandemic is the president actually is. in the crowd doesn't it is linked in to a number of different front lots of. friends there is economic the interdependence of our economies it's not only the countries that have been seve

that we rapidly come out of the crisis and that we invest in our european priorities and for that next generation e.u. the recovery fund is important. but with money that's memory mainly we're friendship and so what's your message to those who have been critical or skeptical of the idea or to hand out grounds i think during the crisis we saw how easy the the single market can be heavily hampered and damaged. when for example the different economies shut down. so the opposite is necessary for our single market that we open up again and that we recover fast and that we have the integration of the single market repaired rapidly. no member state is able to do that on on its own they are all integrated and dependent on each other which is good because it increased the living standards in the prosperity of all member states and therefore it's in our common interest to get the economy back on its feet we need for that grants because the european budget consists of grants but there will also be a share of loans now you have a number of ideas how to get the money back mission trading or digital tax but to put it mildly these ar

were also discussed it was not only about this recovery fund it was also about other proposals that includes this idea of his health proposal that the european union level or the green deal that bigger size asian this is something again that goes beyond this specific element of the recovery fund and that's why this has also been described terry a something very ambitious on behalf of germany and france it was thank you so much to our political correspondent thomas sparrow well meanwhile today the world health organization's governing body has been holding a virtual meeting to address the global response to the pandemic the summit is aimed posturing cooperation among world powers to slow the spread of covert 19 but tensions are simmering below the surface some states have criticized the w.h.o. as being too slow to react to the outbreak the un has also warned the pandemic could deepen divisions between the world's richest and poorest nations. the world health organization's anyone meeting was supposed to take place in geneva but the pandemic forced it to a virtual gathering for the 1st time in the history of the organization of course the pand

more financial aid to european partners now mutual debt clearly was not on the cards that the ra is age old and germany has been mainly against it but look the idea of this recovery fund using the e.u. budget as a backdoor if you want to introduce corona bonds light is not entirely new the head of the european commission is about fondling has inherited a couple of weeks ago saying that it could be a marshall plan and i haven't heard of the german chancellor completely rule out that idea in fact she even mentioned a treaty change in the future if that's what it takes to bring europe back on track after the corona crisis and yesterday she reiterated that position saying that europe needs fundamental change of the european commission has welcomed this initiative but half a trillion euros of joint each year borrowing that's a potentially sticky issue i mean what could that mean for the plans viability. well to to put the plan into reality of course you will need a unanimous decision by e.u. leaders so you need all $27.00 on board and so far the frugal for a countries in the north of europe including the netherlands all strive already said their position remains unchanged