May 18, 2020 / 6:22 PM / 2 months ago

European Recovery Fund should help bloc emerge strengthened from crisis: Merkel

German Chancellor Angela Merkel holds a joint video news conference with French President Emmanuel Macron in Berlin, Germany, May 18, 2020. Kay Nietfeld/Pool via REUTERS

BERLIN (Reuters) - France and Germany are proposing a European Recovery Fund worth 500 billion euros ($543.50 billion) to help the bloc quickly exit the coronavirus crisis, Chancellor Angela Merkel said on Monday.

“We must act, we must act in a European way so that we get out of the crisis well and strengthened,” Merkel told reporters after bilateral talks with French President Emmanuel Macron.

She added that the Fund would offer grants to the countries and regions hardest hit by the coronavirus crisis.

Reporting by Michael Nienaber, editing by Thomas Escritt

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