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Macron, Merkel float ‘ambitious’ EU virus fund
France and Germany are proposing a €500bn ($545bn; £448bn) European recovery fund to be distributed to European Union (EU) countries worst affected by COVID-19.
In talks on Monday, French President Emmanuel Macron and German Chancellor Angela Merkel agreed that the funds should be provided as grants.
The proposal represents a significant shift in Mrs Merkel’s position.
Mr Macron said it was a major step forward and was “what the eurozone needs to remain united”.
“I believe this is a very deep transformation and that’s what the European Union and the single market needed to remain coherent,” Mr Macron said following discussions via video link.
Mrs Merkel, who had previously rejected the idea of nations sharing debt, said the European Commission would raise money for the fund by borrowing on the markets, which would be repaid gradually from the EU’s overall budget.
Grants provided by the proposed recovery fund should also be used to help finance the bloc’s investment in a greener future, the two leaders said.
European Commission President Ursula von der Leyen said the proposal “acknowledges the scope and the size of the economic challenge that Europe faces”.
European Central Bank (ECB) President Christine Lagarde said the plan was “ambitious, targeted and welcome”.
Other EU countries must agree with the proposal, however, and Austrian Chancellor Sebastian Kurz later insisted that his country backed providing loans to member nations hit hard by the coronavirus pandemic, rather than grants.
“Our position remains unchanged,” Mr Kurz wrote in a tweet, adding: “We expect the updated [EU budget] to reflect the new priorities rather than raising the ceiling.”
In EU political terms this is huge.
Chancellor Merkel has conceded a lot. She openly agreed with the French that any money from this fund, allocated to a needy EU country, should be a grant, not a loan. Importantly, this means not increasing the debts of economies already weak before the pandemic.
President Macron gave ground, too. He had wanted a huge fund of a trillion or more Euros. But a trillion Euros of grants was probably too much for Mrs Merkel to swallow on behalf of fellow German taxpayers.
The resulting compromise: a win-win for the two leaders. They hope. -BBC
News
NPP is so hurt by my nomination – Sam George
The Minister for Communications, Digital Technology, and Innovation, and Member of Parliament(MP) for Ningo-Prampram, Samuel Nartey George, says opposition New Patriotic Party (NPP) Members of Parliament (MPs) are hurt by his nomination.
The minister who was approved by the majority in Parliament yesterday in a Facebook post stated that “It is clear to me that the NPP is so hurt by my nomination as Minister for Communications, Digital Technology, and Innovations and would stop at nothing to fight it.”
His post was in response to photos circulated on social media suggesting he was watching what appears to be nude content on his phone.
Mr. Sam George accused the NPP MPs of circulating fake photos with a false narration to tarnish his reputation, saying: “They have resorted to a smear campaign and cheap lies with fake photos.”
“After failing to mobilise their own Caucus in Parliament to vote against my nomination, they have resorted to smear campaign and cheap lies with fake photos,” he posted.
He concluded, “I can assure them that the days of misinformation and cheap fabricated lies are coming to an end. The Ministry would tighten regulations on such illegal conducts of misinformation and disinformation in the coming weeks and sanitise our media space.So help me God.”
By Edem Mensah-Tsotorme
News
New BoG governor can’t engage in official duties – Afenyo-Markin to Mahama
The Minority Leader, Alexander Afenyo Markin has raised concerns over the assumption of official duties by Dr. Johnson Asiamah as Governor of the Bank of Ghana (BoG).
The former Deputy Governor was recently nominated by President John Dramani, on January 31, 2025, to serve as Governor, pending approval by the Council of State.
This follows a formal request by the current Governor, Dr. Ernest Addison, to proceed on leave ahead of his retirement on March 31, 2025.
However, in a letter to President Mahama dated February 4, Minority Leader raised serious concerns with Dr. Asiamah’s assumption of office in the absence of the Council of State.
“Your Excellency, it is my considered view that Dr. Johnson Asiamah should refrain from engaging in official duties at the Bank of Ghana until his nomination has been duly approved by the Council of State. While awaiting confirmation, he can seek any necessary briefings outside the formal assumption of office,” the letter noted.
He added, “I trust that due attention will be given to this matter to uphold the integrity of our institutional processes.”
By Edem Mensah-Tsotorme
Read full statement below
