Austria, Sweden, Denmark and the Netherlands have submitted a counter-proposal to the Franco-German initiative for a European Union recovery plan against the coronavirus, DPA and Reuters reported.
The four fiscally conservative countries support the idea of a unique emergency fund to strengthen the EU economy.
However, it is particularly important that countries limit this emergency aid to two years, according to a statement from the Austrian Chancellery today.
In the alternative proposal, which has already been announced several times, the four parties also make it clear that they will not agree to consolidate the debt and increase the Community budget.
The draft proposal was seen by DPA.
Recently, German Chancellor Angela Merkel and French President Emmanuel Macron proposed a recovery plan of 500 billion euros for the period after the coronavirus pandemic.
The idea is for the money to be raised by the European Commission as loans on the capital markets and provided in the form of grants through the EU budget.
The EU’s “Thrifty Four” – Austria, Sweden, Denmark and the Netherlands – oppose grants, calling for a credit approach instead.
Italy described the counter-proposal as “defensive and inappropriate”, the DPA added.