EU 27 leaders reach agreement after marathon meeting

21 July 2020
338 Views

EU leaders have struck a deal on a huge post-coronavirus recovery package following a fourth night of talks.

It will see the 27-nation bloc offering €750bn in grants and loans to counter the economic impact of the pandemic.

Summit chairman Charles Michel said it was a “pivotal moment” for Europe.

Talks which began on Friday saw a split between nations hardest hit by the outbreak and “frugal” members who were concerned about costs.

The deal centres on a €390bn programme of grants to member states hardest hit by the pandemic.

It was reached alongside agreement on the bloc’s next seven-year budget, worth about €1.1tn.

The summit, which began in Brussels on Friday morning, saw more than 90 hours of talks and became the EU’s longest since a 2000 meeting in the French city of Nice, which lasted for five days.

The package will now face more technical negotiations by member states, and need ratification by the European Parliament.

source bbc

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