May 18, 2020 / 6:22 PM / 11 days ago

Germany to shoulder 27% of Recovery Fund money: 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) - German Chancellor Angela Merkel said on Monday the 500 billion euros ($545.55 billion) proposed for a European Recovery Fund should be paid back over a long time period, with Berlin shouldering roughly 27% of the funds as was already the case in the regular EU budget.

Reporting by Michael Nienaber; Editing by Maria Sheahan

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