France, Germany propose 500 billion euro EU Recovery Fund

PARIS/BERLIN (Reuters) - France and Germany proposed on Monday a 500 billion euro (445.3 billion pounds) Recovery Fund that would offer grants to European Union regions and sectors hit hardest by the coronavirus pandemic, pushing up the euro and bringing down Italian bond yields.The two biggest EU countries, whose agreements usually pave the way for broader EU deals, proposed that the European Commission borrow the money on behalf of the whole EU and spend it as an additional top-up to the..