BRUSSELS (Reuters) - The European Union is at a crossroads and risks falling apart if governments do not quickly agree on a new fund to sustain the bloc’s economic recovery from the coronavirus crisis, EU economics commissioner Paolo Gentiloni said on Thursday.
“We are really at a crossroads. Either we are able to have a strong common response, but we are not there yet, or the entire project is at stake,” Gentiloni said, calling for the establishment in autumn of a recovery fund that would mitigate economic divergences among member states.
EU states have agreed that a joint response is needed but are struggling to find common ground on the fiscal support that could be provided through this new tool.
Reporting by Francesco Guarascio; Editing by Toby Chopra