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EU moving towards fiscal union with pandemic recovery plan - German FinMin

BERLIN, Oct 12 (Reuters) - The European Union is taking a step towards a fiscal union with its plans to recover from the coronavirus pandemic, which involve the European Commission borrowing in financial markets, German Finance Minister Olaf Scholz said on Monday.

“We are moving towards fiscal union, a major step forward in the financial capacity and sovereignty of the EU,” Scholz told an interparliamentary conference on stability, economic coordination and governance in the European Union.

Reporting by Paul Carrel; Editing by Maria Sheahan

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