Recovery fund payments to start in 2021

Payments of the massive coronavirus stimulus approved by EU leaders will start in the second half of next year, Economy Commissioner Paolo Gentiloni was quoted as saying on Friday. In an interview with Italian newspaper La Repubblica he pointed out that countries could use a tenth in anticipation of the plan’s approval.

Gentiloni added that the EU would have to approve new resources, such as the digital tax and the CO2 tax, to repay the common debt between 2026 and 2056. “Otherwise, individual countries will find themselves having to repay the money because Europe has not been able to repay the common debt,” Gentiloni said.

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