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ECB's De Cos calls for EU recovery fund to be approved as soon as possible

MADRID (Reuters) - European Central Bank policymaker Pablo Hernandez de Cos said on Wednesday it was important to approve a European recovery fund as soon as possible and with an adequate size to help weather the impact from the coronavirus pandemic.

“What is important is to get this plan approved as soon as possible and that its size is appropriate for the task that lies ahead,” De Cos told a webinar hosted by Spanish business school ESADE.

EU leaders agreed on Friday that urgent action was needed to haul their coronavirus-hit economies from the deepest recession since World War Two, but made no progress on a massive stimulus plan that has divided them bitterly for weeks.

Reporting By Jesús Aguado; Editing by Nathan Allen