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The EU has announced a €750 billion recovery package to help the bloc through the coronavirus crisis.

Commission President Ursula von der Leyen spoke about the funding that aims to “kick-start our economy and ensure Europe bounces forward”.

However, German MEP Manfred Weber warned the nations known as the “frugal four” (Austria, Denmark, Sweden and the Netherlands) that without their cooperation, the whole thing could collapse.

He told the Commission: “To the frugal four, let me be clear with these main arguments.

“First of all, our companies cannot be successful without a successful single market so it’s in your interest to make the whole EU successful.

“Secondly, we see a resdistribution of the global economic power going.

“I don’t want to see China being a winner and Europe being a loser.”

More to follow…

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