COVID-19: EU leaders strike deal on historic coronavirus stimulus package

1 year ago

The 27 leaders of the European Union have struck a deal on a historic multi-billion-euro economic recovery package to curb the damage caused by the coronavirus pandemic, after four draining days of negotiations at a Brussels summit.

https://storage.waploaded.com/images/a4ea6d9eb41da06b1657a9eb8b07f458.png

Consisting of a 750-billion-euro ($855 billion) stimulus spending pot and a regular seven-year EU budget worth 1.074 trillion euros, starting from 2021, it is the largest such combined package ever agreed in the EU.

It will also see the European Commission raise debt on a large scale on behalf of member states for the first time.

“We did it,’’ European Council President, Charles Michel, said early Tuesday morning, hailing the agreement as a historic moment, NAN reports.

Related Forums
Fast-Rising Star, Olakira Bags Deal With Luxurious Auto-Mobile Company, Maserati
Forum

Fast-Rising Star, Olakira Bags Deal With Luxurious Auto-Mobile Company, Maserati

2 hours ago
Spurs remain eager to close deal for Wolves attacker Traore
Forum

Spurs remain eager to close deal for Wolves attacker Traore

5 days ago
Napoli closing deal for Ajax fullback Nicolas Tagliafico
Forum

Napoli closing deal for Ajax fullback Nicolas Tagliafico

5 days ago
It’s No Big Deal If My Wife, Toyin Abraham, Is Richer Than I Am - Actor Kolawole Ajeyemi
Forum

It’s No Big Deal If My Wife, Toyin Abraham, Is Richer Than I Am - Actor Kolawole Ajeyemi

2 weeks ago