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EU should not make its crisis recovery funds a permanent tool - German advisers

BERLIN, Nov 11 (Reuters) - The German government’s council of economic advisers said on Wednesday the European Union should not make its debt-financed 750 billion euro recovery funds a permanent tool unless member states transfer fiscal sovereignty to Brussels.

The council also said the European Central Bank should end its Pandemic Emergency Purchase Programme (PEPP) as soon as the recovery was taking hold because otherwise it would lower the incentives for member states to use the EU’s crisis aid loans. (Reporting by Michael Nienaber; editing by Thomas Seythal)

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