Recovery fund: FT, ECB asks EU to make it permanent
Greece, Bulgaria, Croatia could be biggest net beneficiaries
24 September, 12:22The fund's centerpiece, i.e. 390 billion euro of grants, "would provide a net benefit worth more than 10 per cent of the pre-crisis Croatian and Bulgarian economies and almost 9 per cent for Greece," the ECB estimated in a note, the Financial Times reported. The scheme "ensures stronger macroeconomic support for more vulnerable countries", the ECB noted.
The heaviest net losers include countries that initially opposed the fund. Austria, Denmark, Sweden and the Netherlands will lose out on a net basis by nearly 2 per cent of pre-pandemic GDP, as will Germany, according to the Financial Times. (ANSA).