EU leaders finally strike a ‘historic’ deal on post-pandemic recovery

European Union leaders have finally agreed on a deal for their Coronavirus-throttled economies at a pre-dawn meeting. It involves €750bn in grants and loans to counter the adverse impact of the COVID-19 pandemic in the 27-member bloc.

Deal!

— Charles Michel (@eucopresident) July 21, 2020

With this, the European Commission, as well as the EU’s executive, can raise funds on capital markets on behalf of all 27 states.

We did it! We have reached a deal on the recovery package and the European budget for 2021-2027.

This is a strong deal. And most importantly, the right deal for Europe right now. #EUCO pic.twitter.com/c6fQ5ppwpf

— Charles Michel (@eucopresident) July 21, 2020