Germany and France set up 500 billion euro support fund

21 May, 2020

The euro rose on Wednesday after receiving support from the Franco-German proposal to create a common fund to support the economy of €500 billion for the EU countries most affected by the COVID-19 pandemic. And this is not credit money. Assistance will be allocated in the form of prizes and grants (which is absolutely free!). The first applicants for help will be Italy and Spain, who have suffered more from the coronavirus pandemic.  

Someday, such a clumsy way to support the economies of certain regions will have repercussions, but not in the next business cycle. So the Euro will continue to grow against the US dollar throughout the current year.


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