EU’s Coronavirus Emergency Deal
On April 09, Eurogroup finance ministers agreed an emergency rescue package aimed at responding to the coronavirus crisis but left unresolved questions on how to pay for a later economic recovery plan for the bloc. While ministers agreed on a €500bn package of palliative economic measures in their meeting, they did nothing to lay to rest the festering dispute over how to pay for the longer-term economic reconstruction effort that will follow the crisis. The emergency rescue package promises to make available more than half a trillion euros to cushion the impact of the coronavirus pandemic across Europe.
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