June 19, 2020 / 2:08 PM / 22 days ago

Macron wants to find quick agreement on EU recovery fund in July - French official

French President Emmanuel Macron attends a virtual meeting with European leaders to discuss the bloc's budget and recovery fund, in Paris, France June 19, 2020. Eliot Blondet/Pool via REUTERS

PARIS (Reuters) - French President Emmanuel Macron told European Union leaders it was necessary to find a quick agreement on a proposed 750 billion-euro recovery fund in July to maintain the current momentum, a French official said on Friday.

Failing to agree on the recovery plan would send the wrong signal, Macron said, according to the same official.

In the same call with EU leaders, the French president added that out of 750 billion euros, preserving the 500 billion euros in grants was France’s top priority, in line with German Chancellor Angela Merkel.

France finds possible and legitimate to link grants with national reforms, though not through Troika-type mechanism, the official added.

Reporting by Michel Rose; Writing by Mathieu Rosemain

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