EU Recovery Fund ‘is the best scenario,’ says Le Maire

The significance of extending the fiscal flexibility given to European Union member-states so they have the space to help their economies recover was highlighted by Bruno Le Maire in an interview with the EU correspondents of several European top newspapers, including Kathimerini. The French minister of economy and finance also revealed his government's willingness to accept the logic of partial liability as the basis for the common debt issuance that will bankroll the Recovery Fund. This concession, which is a step back from the goal of a Eurobond, makes it more likely that there can be agreement on the matter with Berlin.

Regarding the fiscal rules, Le Maire says: "We should be aware that the economic recovery will be long, difficult and costly. It will not be like turning on a switch, only a matter of a few days, or weeks, or even months. It takes time to open shops,...