FT News Briefing Deadlock on EU recovery fund, Argentina’s plea to creditors, TikTok trouble
Jul 20, 2020
EU leaders are entrenched in a tense debate over a €750 billion recovery fund, grappling with divisions on fund distribution and governance. Argentina's president passionately defends a final debt restructuring offer of $65 billion to creditors amid economic turmoil. In tech news, TikTok faces scrutiny over data privacy as the US considers a potential ban and Hungary raises opposition to EU fund reforms. The podcast examines these complex issues that intertwine economics, sovereignty, and digital security.
AI Snips
Chapters
Transcript
Episode notes
EU Recovery Fund Deadlock
- EU leaders are divided on the proposed €750bn coronavirus recovery fund.
- Disputes include the amount of grants, fund governance, and rule-of-law requirements.
EU Summit Sticking Points
- The 'frugal' EU states want funds as loans, while others want grants.
- Other divisions include fund governance, rebates, criteria for fund allocation, and rule of law adherence.
Argentina's Debt Plea
- Argentina's president pleaded with creditors to accept his final $65bn debt restructuring offer.
- He insists any more would jeopardize Argentina's repayment ability after their ninth default.