EU’s Gentiloni: €1.5 trillion worth of aid could be necessary to deal with virus fallout

Comments by European commissioner for the economy, Paolo Gentiloni

Comments by Gentiloni to German magazine, Der Spiegel:

“The Eurogroup has now made proposals for aid worth more than €500 billion to finance healthcare and short-time work and to help small and medium-sized companies. That leaves at least one trillion euros. This is roughly the amount we need to be dealing with now.”

He also adds that the funds could be raised via the next annual budget.