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Frugal four take on France and Germany as coronavirus recovery plan divides EU

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The EU Commission is set to unveil a new EU budget and recovery fund to help European countries bounce back from the pandemic.

Battle lines are being drawn between national capitals over how to finance the recovery. In particular, how to raise credit and what strings are attached for repayment. The conflict pits a Franco-German plan laid out by Germany’s Merkel and France’s Macron against an alternative approach from the group of nations known as The Frugal Four.