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EU joint debt plan must remain a 'one-off' instrument, says Angela Merkel

She spoke to the Bundestag lower house of Parliament before it voted to approve the legislation for the EU plan

German Chancellor Angela Merkel holds a news conference after meeting with vaccine producers and Germany's state prime ministers via video conference, in Berlin, Germany. Photo: PTI
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German Chancellor Angela Merkel

Michael Nienaber & Paul Carrel | Reuters
The European Union’s plan to take on joint debt on a large scale and channel the money to member states worst hit by Covid-19 will create an important tool to overcome the crisis, but it must remain a one-off event, German Chancellor Angela Merkel said on Thursday.
 
She spoke to the Bundestag lower house of Parliament before it voted to approve the legislation for the EU plan. The upper house, or Bundesrat, is expected to pass it on Friday.
 
“In the debate today, it will be made clear again that the recovery fund is a one-off instrument limited