18, May 2020
Covid-19: France and Germany propose €500 billion EU recovery fund 0
French President Emmanuel Macron and German Chancellor Angela Merkel presented a joint plan to spur EU recovery from the coronavirus crisis on Monday, after weeks of debate over how to deploy billions of euros needed to end a painful recession.
In a joint video conference, Macron and Merkel called for the creation of a 500-billion-euro ($543 billion) recovery fund able to offer grants to the countries and regions hardest hit by the coronavirus crisis.
The leaders of France and Germany also said they were proposing to authorise the European Commission to borrow money on financial markets in the European Union’s name, while at the same time respecting EU treaties.
Macron and Merkel propose €500 billion EU recovery fund: Watch their press conference
Macron said this was the first time France and Germany agreed to let the EU raise debt jointly, calling this a “major step foward”. He insisted that money from the recovery fund would be made available in the form of grants and not loans.
Merkel said that in all, EU member states and the bloc’s executive would mobilise a combined sum of three trillion euros to cushion the economic impact of the coronavirus pandemic.
She said France and Germany were also in favour of reforming the EU’s merger and competition rules so that the bloc can create stronger European champions after the coronavirus crisis.
Europe is just beginning to emerge from lockdowns put in place to slow the spread of the coronavirus, which has taken a huge bite out of national economies. But divisions among EU members on how to craft an overall response have hampered comprehensive action so far.
Macron said on Monday that the Franco-German initiative was the fruit of extensive talks with other EU member states, including Italy and the Netherlands, which have been at loggerheads in recent weeks.
The recovery debate has again exposed the bloc’s divide between northern countries leery of exploding budget deficits, and hard-hit southern countries like Italy and Spain that are desperate for more spending.
The eurozone economy overall is forecast to contract by a whopping 7.7 percent this year, but the damage could be worse in Italy and Greece, which could see their economies shrink by nearly 10 percent, prompting a cascade of bankruptcies and job losses.
While the European Commission still takes time before presenting its own plan, Emmanuel Macron and Angela Merkel unveil their joint proposal for a 500 billion euros for the #Recovery Initiative.
European sources told AFP last week the Commission would lay out its plan toward the end of May, hoping to reconcile the opposing objectives of providing financial firepower – and proving European solidarity – without giving governments a blank check that would expose the entire bloc to gaping budget deficits.
Commission president Ursula Von der Leyen has not given a specific figure, but has said the plan would be linked to the EU’s regular budget and funded in part by the commission borrowing on financial markets.
That would require European Parliament approval as well as a summit meeting of member states to give a green light on how the funds would be used, and the terms for their reimbursement.
The European Central Bank has also promised to do “whatever is necessary” to help weather the crisis, including a 750-billion-euro scheme to buy government bonds for cash-strapped nations.
However, that has proved problematic after Germany’s Constitutional Court attacked the ruling, potentially limiting Germany’s participation.
(FRANCE 24 with REUTERS, AFP)



















19, May 2020
Battle for Ambazonia: US Assistant Secretary tells Yaounde and Southern Cameroons Interim Gov’t to “Stop Violence, Start Talking” 0
Tibor Peter Nagy Jr., the United States Assistant Secretary of State for African Affairs says as the situation in Cameroon’s restive North West and South West Regions deepens, the belligerents must now “stop [the] violence and start talking.”
Taking to Twitter Monday, May 18, 2020, Ambassador Nagy says the killing of civilians is inexcusable, citing the killings in Ngarbuh attributed to state forces and the killing of the Mayor of Mamfe by armed separatists.
His words: “Government killing of civilians in Cameroon is inexcusable. I urge follow-through on Ngarbuh investigation and many other incidents of this nature. I also condemn separatist attacks on local officials such as the murder of Mamfe’s mayor. Stop violence, start talking. ”
On February 14, 2020, at least ten children and three women were among those killed when soldiers carried out an operation in Ngarbuh, a village in the country’s North West Region.
Government initially blamed the deaths on the separatists. But on April 21, 2020, the report of the commission of inquiry into the incident faulted Major Nyiangono Ze Charles Eric, Commander of the 52nd Motorized Infantry Battalion (BIM) in Nkambe and all the servicemen who took part in the Ngarbuh operation.
It emerged that Major Nyiangono authorized the “reconnaissance mission” which was led by Sergeant Baba Guida commander of the Ntumbaw joint regiment. The detachment comprising three servicemen and two gendarmes enlisted seventeen members of a local vigilante committee.
In faulting the state forces, the inquiry said: “Following an exchange of gunfire, during which five terrorists were killed, and many weapons seized, the detachment discovered that three women and ten children had died because of its action. Panic-stricken, the three servicemen with the help of some members of the vigilante committee, tried to conceal the facts by causing fires. On his return to Ntumbaw, Sergeant Baba Guida who led the operation, submitted a deliberately biased report to his superiors, a report on which the Government initially based its statement. ”
We also recall that on May 10, 2020, armed separatists ambushed and killed Ashu Prisley Ojong, Mayor of Mamfe in Manyu Division. Two service men were wounded in the attack according to authorities. These are only isolated cases of the violence and abuses taking place in the restive area.
Many are those who have proposed a US led mediation to end the crisis.
Source: Cameroon Info.Net