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Posts tagged as “Recovery”

EU Agrees to $857B Economic Recovery Plan

Beating deep divisions more than some of its terms, European leaders agreed Tuesday to a historic offer to rebuild EU economies ravaged by the coronavirus disaster.

Below the agreement, which was achieved right after a contentious 5-working day summit in Brussels, the EU will borrow 750 billion euros ($857.33 billion) for a restoration fund to be distributed among member states, with 390 billion euros ($446 billion) heading towards grants to the most difficult strike and the relaxation delivered as financial loans.

European Fee President Ursula Von Der Leyen and European Council President Charles Michel at the European summit in Brussel.

Leaders also agreed to a new EU budget of just about 1.1 trillion euros ($1.three trillion) for 2021-2027, producing put together paying ability of about 1.8 trillion euros ($two trillion).

“We did it! Europe is sturdy. Europe is united,” European Council President Charles Michel mentioned at a push meeting. “This

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