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Ireland will be a 'net contributor' to EU's €750bn recovery fund, Taoiseach says

Ireland will be a "net contributor" to the European Union's €750bn COVID-19 recovery fund, acco...
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Newsroom

13.48 18 Jul 2020


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Ireland will be a 'net contrib...

Ireland will be a 'net contributor' to EU's €750bn recovery fund, Taoiseach says

Newsroom
Newsroom

13.48 18 Jul 2020


Share this article


Ireland will be a "net contributor" to the European Union's €750bn COVID-19 recovery fund, according to the Taoiseach.

Leaders are meeting at a summit in Brussels for a second day of negotiations, with little sign of progress so far.

Micheál Martin said Ireland understands the need for a "dramatic" and "impactful" set of supports.

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He also stated that the country will be putting more into the fund than we get back.

The Taoiseach said: "We're saying that Europe has to recover because we're an exporting nation, we want a European-wide recovery because that will help to underpin an Ireland-wide recovery.

"That's the kind of stance we're taking as opposed to looking to how much we get back.

"We will be a net contributor at the end of the day out of all of this in any event.

He added that "the big picture" is that Europe "needs to do something dramatic and something impactful" collectively with regard to raising and allocating funds to get an economic recovery going.

The summit continues today after leaders of the 27 EU countries reached a deadlock during discussions on Friday.

Mr Martin said that what emerged yesterday after speaking to other EU leaders at the Council meeting was "a real caution and nervousness around the reopening that's going on in various countries and the degree to which the virus is just not going away".

He said it was necessary to get a deal through now in order to precipitate economic recovery while the world learns to live with the presence of the coronavirus.

Main image: Taoiseach Micheál Martin arriving for an EU summit at the European Council building in Brussels yesterday. Photo: John Thys, Pool Photo via AP

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