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

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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.

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