‘Defining moment’ as EU executive pushes for €500bn in grants

Posted by on May 27, 2020 10:09 am
Categories: Global Stories

Plan to help EU states hardest hit by coronavirus faces resistance from ‘frugal four’

The European Union executive has called for a €750bn (£671bn) recovery plan to help the hardest hit countries find a way out of the unprecedented economic downturn caused by the pandemic.

The European commission president, Ursula von der Leyen, said the EU faced a defining moment, never seen in its 70-year history. “The crisis has huge externalities and spillovers across all countries and none of that can be fixed by any single country alone.” 

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