The European Union must focus on its current €750 billion (US$910 billion) pandemic recovery package before envisaging further stimulus, the EU’s antitrust chief told Les Echos, adding that talk of a second plan was a “bit bizarre,” reported Reuters.
In an interview to be published on Monday, May 17, in the French newspaper, Margrethe Vestager, the European Commission’s executive vice president, shot down the need for an additional economic stimulus package for now.
US President Joe Biden is proposing a US$4 trillion package to rebuild the economy, including programs for infrastructure, childcare, and education.
His push has raised questions among some in Europe over whether more would be needed to boost companies and investment programs post-COVID-19.
“It’s way too soon to be considering it,” Vestager was quoted as saying in Les Echos. “I find it a bit bizarre to be talking about a new stimulus plan that we are not sure we need, when we already have so much to do.”
France has pushed for a more ambitious economic recovery plan than the one already outlined, although the €750 billion, agreed last summer after the epidemic’s first wave, has yet to be disbursed.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Regulators Set to Clear Microsoft’s $13B OpenAI Investment
Apr 17, 2024 by
CPI
Biden Pledges to Block US Steel Acquisition by Japanese Firm
Apr 17, 2024 by
CPI
Canada Targets Tech Titans with New Digital Tax in 2024
Apr 17, 2024 by
CPI
EU Privacy Watchdog Calls for Meta to Offer Ad-Free Option
Apr 17, 2024 by
CPI
Japan’s Antitrust Overhaul Targets Tech Titans Like Apple
Apr 17, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – China Edition – Year of the Dragon
Apr 16, 2024 by
CPI
Review Logic and Rules for Concentrations of Undertakings that Do Not Meet the Standard of Notification
Apr 16, 2024 by
CPI
China’s Review of Semiconductor Transactions
Apr 16, 2024 by
CPI
Key Challenges and Tips for Merger Control Filing in China for Listed Companies
Apr 16, 2024 by
CPI
Key Point Review: China SPC Antitrust Judgments in 2023
Apr 16, 2024 by
CPI