New EU funds for Corona fight, reconstruction, medical devices

In a strong sign of solidarity, the European Parliament, with support from the EPP Group and other mainstream parties, supports a €3 billion plan to help in the fight against the Coronavirus pandemic. It also backs more flexible financing for the recovery, front-loading spending and allowing short-term financing under the €400 billion European Stability Mechanism set up after the 2008 financial crisis. Projects can receive 100% EU funding. And Parliament backs action to speed up the production of medical supplies in Europe. The EPP Group proposes postponing more stringent regulations to allow this.