EU needs swift decision on budget, recovery fund – Merkel

BERLIN, June 18 (Reuters) – German Chancellor Angela Merkel on Thursday urged the European Union to swiftly seal a multi-year budget deal and recovery fund to help the bloc survive the economic damage caused by the coronavirus pandemic.

Merkel said that an any agreement would not be reached during a summit of EU leaders on Friday via videoconference but rather at a physical meeting later this year.

“I will make the case that at the European Council we reach a decision about a multi-year financing deal and a recovery fund as quickly as possible,” Merkel said in a speech to parliament.

(Reporting by Paul Carrel and Michael Nienaber Writing by Joseph Nasr)