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Germany to spend 90% of EU recovery money on green, digital goals

Germany to spend 90% of EU recovery money on green, digital goals Reuters 1 hr ago © Reuters/HANNIBAL HANSCHKE FILE PHOTO: German Finance Minister Scholz holds a news conference in Berlin BERLIN (Reuters) - Germany will spend 90% of the 28 billion euros ($34 billion) it expects from the European Union s 750 billion euro recovery fund on climate protection and digitalization, by far exceeding EU requirements, Finance Minister Olaf Scholz said on Tuesday. Popular Searches Today is a good day for Europe . Now, we can act united for a strong Europe which stands in solidarity and is fit for the future, Scholz said as both Germany and France presented their plans for the money.

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People in Munich, Germany, on May 12. Andreas Gebert/Reuters Starting this week, 120 Germans will receive a form of universal basic income every month for three years. The volunteers will get monthly payments of €1,200, or about $1,400, as part of a study testing a universal basic income. The study will compare the experiences of the 120 volunteers with 1,380 people who do not receive the payments. About 140,000 people have helped fund the study through donations. The concept of universal basic income has gained traction in recent years, and Finland tested a form of it in 2017. Supporters say it would reduce inequality and improve well-being, while opponents argue it would be too expensive and discourage work.

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