EU strikes €500bn relief deal for countries hit hardest by pandemic

EU strikes €500bn relief deal for countries hit hardest by pandemic

EU finance ministers have agreed a €500bn rescue package for European countries hit hard by the pandemic after Italy’s PM, Giuseppe Conte, warned that the existence of the bloc was at stake. During the negotiations, EU ministers failed to accept a demand from France and Italy to share out the cost of the crisis by issuing coronabonds. The package agreed is one third of what ECB had urged.

KCooper
KCooper
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