EU recovery fund should support aerospace sector -France’s Le Maire

You can watch her speak about the legislation here.  The goal of a second IRS stimulus check is in part «putting much-needed money in the pockets of the American people,» House Speaker Nancy Pelosi said in a recorded statement.

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Other EU leaders still have to give their backing to the fund at a summit next month and Le Maire predicted difficult talks until then with Austria, Denmark, the Netherlands and Sweden, where the issue of joint debt is a taboo.

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France and Germany proposed that the fund would be financed through European Commission borrowing on markets to make grants to regions and sectors struggling to get back on their feet after the coronavirus crisis.

Because that payment is available in addition to regular jobless benefits and enhanced unemployment benefits of $600 per week, some critics have said it will make it harder to reduce unemployment ahead if people don’t feel incentivized to return to work. The original relief measure also provides a 15% boost in federal food assistance under the Supplemental Nutrition Assistance Program.

BERLIN, May 19 (Reuters) — German Foreign Minister Heiko Maas expressed confidence on Tuesday that Franco-German plans for a 500 billion euro ($550 billion) Recovery Fund to help Europe out of the coronavirus crisis would get broad agreement from EU partners.

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«The European Recovery Fund must allow us to provide support to the aerospace industry and its 3,000 subcontractors,» Le Maire told the economic and European commissions of the lower house of the French parliament.

Aerospace is one of three industries along with carmaking and tourism which the French government has singled out for sector-specific state support programmes, which Le Maire said he aimed to have ready by July.

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