EU leaders agree on need for EU recovery fund, says Merkel after talks

European Union leaders are agreed that they must work together to set up a fund to help recover from the coronavirus pandemic although they were still at odds on some points, German Chancellor Angela Merkel said on Thursday.

After a video conference of EU leaders, Merkel said such a fund was also in German interests and Berlin would have to make higher contributions to the future EU budget.

"It was clear to everyone that we need such a recovery fund," Merkel told reporters. "I want to say very clearly that such a joint solution is in Germany's interest because things can only go well for Germany if they go well for Europe."