A first agreement on the establishment of a European Recovery Fund, which will be based on the multi-year framework for the period 2021-2027, seeks to be reached at today’s teleconference of the 27 leaders of the EU Member States, with Greece being in favor of the common debt issue.

Speaking at an online discussion of the Konstantinos Karamanlis Foundation, Finance Minister Christos Staikouras said that Athens expects that the decisions to be taken, will not be inferior to the circumstances and will not be timid. “The pandemic requires coordination at both national and European levels because no European country is strong enough to handle the huge burden of the pandemic, on its own.”

“We believe in a strong Recovery Fund with enough resources,” he said, stressing that it should provide funding mainly from a joint debt issue.

Regarding the measures that have already been taken at a European level, the Minister of Finance reiterated that they are useful, but they are not enough as the needs are greater, reminding that according to the ECB, they exceed 1.5 trillion euros.