Europe must not delay recovery fund, Lagarde says

Europe must not delay the distribution of a 750 billion euro recovery fund for the pandemic-hit economy and should also debate creating a permanent fiscal tool for the bloc, European Central Bank President Christine Lagarde told a French newspaper.

"The Commission’s aim is to be able to distribute these funds at the beginning of 2021, and this timeline must be kept," Lagarde was quoted in Le Monde as saying.

"I hope that there will also be a debate about a common budgetary tool for the euro area, and that it will be enriched by our current experience," she added.