Will Europe manage to unite around the financial plan for recovery?

Bank deposits are growing across Europe as people respond to the crisis that hits the continent's economies. From France to Italy, tens of billions of euros were deposited in banks while citizens worried about their financial future and put away money to face an uncertain future.

Things are a little different in Germany. Debt bank accounts have dropped after large money withdrawals have been made. Why? Germans tend to keep their savings in themselves during a crisis; a similar phenomenon occurred at the peak of the 2008 financial crisis. The German Central Bank reported that the money in circulation increased by a massive amount of $39.7 billion since the beginning of the year.

Whether the money is at home or at the bank, what is happening shows that trust has fallen; that purchasing power cannot help Europe's economy by falling.

This news, amid a series of predictions of deterioration, is gathering pressure on the European Union so that the latter can come up with a long-term plan of recovery. Can the European Commission come up with a plan to unite everyone?

On the one hand, it is Germany and France that have joined forces to seek a recovery fund of 500 billion euros. The money will be raised by the European Commission's borrowing in capital markets and used to support EU spending through grants.

On the other hand, the so-called Frugal Fourué Austria, Denmark, the Netherlands and Sweden have come up with a counterproposal opposing grants and adopts a credit credit approach, coupled with reforms.

Can they agree? The proposal of Frugal Four appears to be just so, a proposal, rather than a red line not to be crossed. A deal will have to be reached. And although member states have veto rights, what leader would want to destroy an agreement that Europe needs so much in the middle of a pandemic? The combined weight of Germany and France will be very heavy.

Therefore, Von der Leyen's plan is a determining moment in Europe's response to the crisis and could also mark a significant change in EU integration, with the Commission borrowing to capital markets on a scale not seen in history.

There are still many unanswered questions, especially how loans will be paid and how the money distributed. Also, the conditions attached to EU support -- particularly the idea about economic recovery reforms -- will be an essential part of the debate.

But debate cannot continue for a long time. Brussels was accused of being too slow in response when it was hit by this crisis, and cannot afford to prevent recovery from leading a recovery that Europe desperately needs, a recovery that cannot expect.