Europe’s Covid recovery fund starts to fall into place
Negotiations were difficult and the plan got off to a slow start, but Europe's huge post-coronavirus recovery fund may make its first payments in July.
To Brussels' relief, two important obstacles in the path of the 672-billion-euro ($812 billion) package of grants and loans were passed this week.
Germany's constitutional court rejected a bid to block the deal's ratification and Portugal became the first EU member to submit its spending plan.
"It was a very good week," a senior EU official told AFP.
A dozen more members -- including big player France -- are due to follow suit next week, handing over what officials warn are on average 50,000-page documents.
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