Group agrees on a 750 billion euro coronavirus fund to be sent as loans and grants to the countries hit hardest by the virus
This translation has been automatically generated and has not been verified for accuracy.Weary European Union leaders finally were closing in on an unprecedented 1.82 trillion euro budget and coronavirus recovery fund early Tuesday, somehow finding unity after four days and as many nights of fighting and wrangling over money and power in one of their longest summits ever.
“There were extremely tense moments. said French President Emmanuel Macron, “But on content, things have moved forward.”One EU official close to the talks said that “we are as good as there.” “An extraordinary situation demands extraordinary efforts,” German Chancellor Angela Merkel said as the leaders pushed on with one of the bloc’s longest summits ever. What was planned as a two-day summit scheduled to end Saturday was forced into two extra days by deep ideological differences among the 27 leaders.
The bloc’s executive has proposed a 750 billion euro coronavirus fund, partly based on common borrowing, to be sent as loans and grants to the countries hit hardest by the virus. That comes on top of the seven-year 1 trillion euro EU budget that leaders had been haggling over for months even before the pandemic.With Macron and Merkel negotiating as the closest of partners, the traditionally powerful Franco-German alliance could not get the quarrelling nations in line for long.
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