Merkel Serves Warning to EU Holdouts She’s Ready to Turn Up Heat
- EU to hold in-person summit in middle of July on recovery fund
- Merkel, Lagarde urged EU leaders to reach deal next month
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German Chancellor Angela Merkel, with backup from France and the European Central Bank, warned the rest of the European Union’s leadership that they will be jeopardizing the bloc’s economic recovery and risking a market rout if they fail to complete negotiations over a massive stimulus package next month.
The EU’s 27 leaders held their first debate on a proposed 750 billion-euro ($840 billion) plan to help their economies heal from the Covid-19 lockdowns during a video conference on Friday and agreed to meet in person next month with the aim of reaching an agreement.