Under the proposal, the E.U will issue €750 billion in government bonds and then distribute that cash to its member states through grants and loans. Nothing will happen, however, until all of the E.U.’s 27 member states approve.
The European Union on Wednesday unveiled a €750 billion coronavirus recovery program as the region attempts to claw its way back from its worst economic crisis in decades; if negotiations between all 27 member economies are successful, the plan could represent a major step towards unifying the bloc’s financial systems. Under the new plan, the E.U. will borrow €750 billion by issuing long term government bonds on international markets.
It will then distribute that money via €500 billion in grants to every member state and €250 billion available for loans . The plan requires approval from all of the E.U.’s 27 member economies as well as the European Parliament. The grants are likely to be a sticking point in negotiations for the E.U.’s wealthier nations like the Netherlands and Sweden, the
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