Macron, Merkel propose 500 billion euro Recovery Fund as 'major step forward'
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PARIS (Reuters) - France and Germany agreed on Monday to propose creating a 500 billion euro ($543 billion) Recovery Fund that would offer grants to European member states and regions hit hardest by the new coronavirus crisis.In what French President Emmanuel Macron said was a "major step forward", the two countries said they were also proposing to allow the European Commission to borrow money on financial markets in the European Union's name, while at the same time respecting EU treaties.France..