German stocks turns positive for 2020 as EU recovery deal rally cheers markets – business live | Business

German stocks turns positive for 2020 as EU recovery deal rally cheers markets – business live | Business


One of the biggest losers is the Just Transition Fund, which was downgraded from the Commission’s €40 billion climate action war-chest to just €10 billion, illustrating how low down the pecking order environmental policies ultimately fell during the talks.

The final deal maintained the stipulation that only countries that have signed up to the EU-wide goal of climate neutrality by 2050 will be eligible for funding.

The recovery fund is meant to tackle the fallout of an unprecedented pandemic but the only instrument meant to support the health sector was scrapped entirely and Horizon Europe, designed to boost innovation, suffered severe cuts as well.

Funding for neighbourhood policy and the Solvency Support Instrument, a €26 billion fund aimed at supporting economically viable private companies, both fell by the wayside.



Source link

Like this article?

Share on facebook
Share on Facebook
Share on twitter
Share on Twitter
Share on linkedin
Share on Linkdin
Share on pinterest
Share on Pinterest

Leave a Reply

Your email address will not be published. Required fields are marked *