The European Commission's proposed rescue package that addresses the repercussions of the novel coronavirus crisis on economies and societies of the EU "is a European Marshall Plan, both in its value and in its extent," European People's Party Vice President and head of New Democracy MEPs Vangelis Meimarakis told the Athens-Macedonian News Agency in an interview.
"The European Commission will on Wednesday present its proposals for the Recovery Fund, which will be close to 500 billion euros, based on what we know about the French-German proposal, and will concern grants as well as additional funding in the form of loans," government spokesperson Stelios Petsas said on Wednesday in an interview with ERA public radio.
The European Commission has approved a 1.2 billion euro Greek aid scheme to support the Greek economy in the context of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.