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    EU holds Spain to ransom as Madrid forced to CUT pensions in return for Covid bailout cash

    EU holds Spain to ransom as Madrid forced to CUT pensions in return for Covid bailout cash

    The £665billion recovery plan was welcomed by cash-strapped member states such as Spain and Italy which have both been hit hard by the pandemic.

    But the cash comes with a catch: before they can get money from the recovery fund, EU governments must prepare plans for how to spend it under the guidance of the Commission.

    The plans have to meet EU requirements of making economies greener, more digitalised, improving their resilience to crises and boosting their potential growth.

    They also need to take into account individual country recommendations issued by the Commission last year.

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