Tuesday, 21 July 2020 09:18
EU leaders agree on landmark stimulus plan to help Europe recover from coronavirus crisis
Written by Super User
After almost five days of fraught discussions, European Union leaders have agreed on a 750 billion euro (almost $858 billion) stimulus plan to help fund Europe's recovery from the coronavirus crisis.
The deal would focus on providing funding across three pillars: creating reforms to help businesses rebound from the pandemic, rolling out new measures to reform economies over the long haul, and investing to help protect from "future crises." It would provide hundreds of billions of dollars in grants and loans to member states.
The agreement came after days of deadlock and fractious talks that were described as some of the most bitterly divided in years.
"We did it! Europe is strong. Europe is united," European Council President Charles Michel said at a press conference Tuesday. "This is a good deal, this is a strong deal, and most importantly, this is the right deal for Europe right now."
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