Europe Spent Just a Third of €3 Trillion Covid War Chests
- EU’s Vestager says aid paid out was far less than budgeted for
- Businesses’ need for state support was not as bad as expected
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European Union states spent only about a third of the more-than 3 trillion euros ($3.4 trillion) in aid they budgeted for to save their economies from the pandemic, EU Competition Commissioner Margrethe Vestager said.
“The situation has not been as bad as the budget would reflect,” she told Reuters BreakingViews in an online interview on Tuesday. “Basically no more than a third of this budget has been used.”