EU official: Aiming to launch EU recovery fund at start of 2021 in best case scenario

The European Union is aiming to launch a recovery fund on Jan 1, 2021 in the best case scenario, an EU official said on Thursday.

Spain has proposed the creation of a fund of up to 1.5 trillion euros ($1.62 trillion) financed by perpetual debt. ($1 = 0.9262 euros)