As businesses cautiously reopen in some European countries, leaders consider urgent coronavirus spending measures and an economic recovery plan.
The coronavirus is devastating lives, healthcare systems and economies, and European Union leaders must work together, using every lever at their disposal, to rebuild and restore public faith in the EU project, the head of the bloc’s parliament warned Thursday.
Speaking to reporters after giving a speech to the bloc’s 27 leaders at the start of their videoconference summit, European Parliament President David Sassoli said, “We are extremely concerned because we can see a downward spiral, and we are going to need every instrument available.” Referring to the massive U.S. aid package in 1948 that helped Europe rebuild after World War II, Sassoli said that “we’ve all called for this new Marshall Plan for Europe, but with a major difference of course. The funds will not be coming from abroad this time, but rather from European countries and economies.”
As businesses cautiously open their doors in some European countries and some of the EU’s half a billion citizens begin to venture out, the leaders are set to endorse a series of urgent spending measures and debate a massive recovery plan they hope to introduce in coming weeks.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks pause before key EU meeting on coronavirus aidCaution gripped markets on Thursday, with stocks falling before a key Eurogroup meeting to discuss joint stimulus measures, offsetting optimism from a fresh round of U.S. coronavirus aid and a recovery in oil prices.
Read more »
EU foreign policy chief chides U.S. for blocking Iran loanJosep Borrell, the EU's foreign policy chief, on Wednesday criticized the U.S. for blocking an Iranian request for a loan from the International Monetary Fund
Read more »
EU regrets U.S. refusal to allow economic aid for Iran to fight coronavirusThe European Union has urged the United States to ease its sanctions on Iran and approve economic aid to help deal with the coronavirus pandemic, but its calls were rejected, the EU's top diplomat said on Wednesday.
Read more »
Guest view: Mutual debt is spectre haunting the EUEuropean leaders meet on Thursday to discuss how to tackle the economic costs of the pandemic. Collective borrowing is the most contentious item on the agenda. Carlo Altomonte of Bocconi University and Fabrizio Pagani of Muzinich explain how a joint “recovery fund” might work.
Read more »
EU 'misunderstandings' delay deal on coronavirus economic recoveryIt may take European Union countries until the summer or even longer to agree on how exactly to finance an economic recovery from the coronavirus pandemic as major disagreements persist, an official with the bloc said on Wednesday.
Read more »
EU leaders weigh massive virus economic recovery measuresBRUSSELS (AP) — European Union leaders are set to weigh Thursday the damage the coronavirus has inflicted on health care systems and the lives of around half a billion citizens across the bloc as...
Read more »