After Five Days Of Talks EU Strikes Massive COVID-19 Recovery Deal

The Guardian: EU leaders seal deal on spending and €750bn Covid-19 recovery plans

Euro rises as heads of state finally thrash out agreement on day five

EU leaders have reached a historic agreement on a €750bn coronavirus pandemic recovery fund and their long-term spending plans following days of acrimonious debate at the bloc’s longest summit in nearly two decades.

As the meeting reached its fifth day, the 27 exhausted heads of state and government finally gave their seal of approval to a plan for the EU to jointly borrow debt to be disbursed through grants on an unprecedented scale, in the face of an economic downturn not seen since the Great Depression.

The end of the tortuous process was announced by the European council president, Charles Michel, who had been chairing the leaders’ long debates, with a single word on Twitter: “Deal!”

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WNU Editor: There was too much money on the table. A deal had to be made. But when you look at the big picture, the money that is being pledged will only make a small difference to the recovery of the European economy.

More News On The EU Striking A Massive COVID-19 Recovery Deal

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EU leaders reach deal on coronavirus recovery package -- DW
EU reaches historic deal on pandemic recovery after fractious summit -- Reuters
EU reaches landmark deal on COVID-19 recovery package -- UPI
EU reaches $1.2 trillion deal on coronavirus recovery after marathon Brussels summit -- ABC News Online