EU leaders finally agreed on the landmark EUR 750B stimulus package after four days of marathon negotiations in Brussels. The package, funded by joint debt, would give out EUR 390B of grants and EUR 360B of low-interest loans to member states for post pandemic recovery.
“This agreement sends a concrete signal that Europe is a force for action,” Charles Michel, president of the EU leaders’ council, said at a press conference afterward. “It is about a lot more than money. It is about workers and families, their jobs, their health and their well-being. I believe this agreement will be seen as a pivotal moment in Europe’s journey, but it will also launch us into the future.”
