May 14, 2020 / 1:29 PM / 23 days ago

France says will tap EU unemployment reinsurance scheme

PARIS (Reuters) - France, which has budgeted 110 billion euros to keeps its economy afloat and workers in jobs, said on Thursday it would use the European Union’s new unemployment reinsurance scheme, but did not plan to tap the European Stability Mechanism.

Finance Minister Bruno Le Maire also said Germany’s position on an EU recovery fund had moved in the right direction after its constitutional court gave the European Central Bank three months to explain the proportionality of its bond purchases.

Reporting by Leigh Thomas; Editing by Richard Lough

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