Merkel praised the agreement to Fund the recovery of the European Union

German Chancellor Angela Merkel said that no regrets about concessions that were made in regard to the requirements of some countries to Fund the recovery of the EU, according to her, the country has reached "the painful but responsible" compromise.

In the night of Monday in Brussels ended a summit of EU leaders, which lasted since Friday. The leaders discussed the budget and the Fund for the recovery of the European economy from the crisis caused by the pandemic. The European Commission proposed 500 billion from the Fund to implement subsidies, 250 billion as loans. In the end, under the pressure of the "Thrifty four" - the Netherlands, Denmark, Sweden and Austria - configuration of the Fund is different: 390 billion euros as subsidies, 360 billion as loans.

"No, I don't regret it (concessions - ed.). I think you need to look at that in one group of countries was encouraged by this new way of working together - they could provide guarantees, but not grants. What we now have come to the agreement that more subsidies than guarantees, I believe the correct response to the challenge that stands before us because of the pandemic. It also means a willingness to compromise, because we went to this compromise, they are also responsible," said Merkel at a press conference following the summit.

According to her, countries that have made concessions, will pay a large part of the subsidies allocated in the most affected regions. She called the compromise "a painful but very responsible."

Merkel also noted that today, in times of a pandemic, "if you look at the global level, multilateral policy really under pressure". "Europe with all 27 member countries has shown that in a time when we are facing a challenge not yet fully revealed how it will affect the economy - it will be clear in the coming months - she can act," Merkel said.