EU leaders have reached a € 2 billion deal to rebuild the European economy

After nearly five days of heated debate, European leaders have agreed to create a € 750 billion ($ 858 billion) recovery fund to rebuild EU economies affected by the coronavirus crisis. The European Commission will borrow money from the financial markets and distribute less than half of it – € 390 billion (€ 446 billion) – as a grant to the EU’s toughest states, with the rest as loans. Leaders agreed on a new EU budget of almost 1.1 trillion euros ($ 1.3 trillion) for 2021-2027, creating a combined expenditure of 1.8 trillion euros ($ 2 trillion). #CNN #Notes

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