"The German-Franco proposal would be a great step towards a fiscal union and a properly functioning currency union, even if the recovery fund is only temporary," said Centeno, who is also Portugal's finance minister.
FRANKFURT: Eurogroup chief Mario Centeno said plans by Germany and France to set up a 500 billion euro ($545 billion) recovery fund to cope with the coronavirus pandemic would be a step towards a fiscal union of the bloc.
"This initiative is a brave step in the right direction to overcome this crisis," Centeno told German weekly Welt am Sonntag.
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