May 18, 2020 / 4:00 PM / 15 days ago

Europe drawing lessons from previous crisis: France's Macron

French President Emmanuel Macron speaks at a joint video news conference with German Chancellor Angela Merkel to discuss Europe's economic recovery plans to respond to the coronavirus crisis at Elysee Palace in Paris, France May 18, 2020. Francois Mori/Pool via REUTERS

PARIS (Reuters) - Europe is drawing lessons from the financial crisis, French President Emmanuel Macron said on Monday after France and Germany proposed a European “Recovery Fund” worth 500 billion euros to help the bloc overcome the new coronavirus pandemic.

Macron also said during a joint video conference with German Chancellor Angela Merkel that the Franco-German initiative was a major step forward.

Reporting by Michel Rose; Writing by Matthieu Protard; Editing by Hugh Lawson

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