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Macron and Merkel back EU bond to raise €500 billion for COVID-19 recovery plan

France and Germany have announced they are backing the creation of an EU bond to raise €500 billion to boost the European economy, severely weakened by the COVID-19 pandemic.

The two leaders, who unveiled their proposal in a joint video press conference, said that work is still needed "to bring together all the member states" as the measure is expected to raise objections in several member states, including the Netherlands and Denmark who have previously opposed the creation of so-called

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