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Coronavirus:

EU leaders reach recovery deal after marathon summit

  • 23 minutes ago
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German Chancellor Angela Merkel (C, down) speaks with French President Emmanuel Macron (C) and Spanish Prime Minister Pedro Sanchez (C, up) during a round table meeeting at an EU summit over a post-virus economic rescue plan in Brussels, on July 20, 2020.Image copyrightAFP
Image captionThe agreement followed several days of negotiations

EU leaders have struck a deal on a huge post-coronavirus recovery package following a fourth night of talks. 
It will see the 27-nation bloc offering €750bn in grants and loans to counter the economic impact of the pandemic. 
Summit chairman Charles Michel said it was a "pivotal moment" for Europe. 
The deal centres on a €390bn programme of grants to member states hardest hit by the pandemic, according to a document seen by AFP news agency.
It was reached alongside agreement on the bloc's next seven-year budget,
How did we get here?
Mr Michel, president of the European Council, tweeted "Deal" shortly after the 27 leaders reached the agreement at about 05:15 (03:15 GMT) on Tuesday. 
Member states were largely split between those hit hardest by the outbreak and keen to revive their economies, and those more u uabout the costs of the recovery u
How have European leaders reacted?
French President Emmanuel Macron said it was a "historic day for Europe". 
"Never before did the EU invest in the future like this," Belgian Prime Minister Sophie Wilmès tweeted.
Mr Michel said the bloc had "showed collective responsibility...and our belief in a common future".




Source: bbc.com

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