EU leaders seal deal on spending and €750bn Covid-19 recovery plans

EU leaders seal deal on spending and €750bn Covid-19 recovery plansJuly 21, 2020

European council president Charles Michel hails ‘pivotal moment’ as heads of state finally thrash out an agreement on day five

EU leaders have reached a historic agreement on a €750bn pandemic recovery fund and their long-term spending plans following days of acrimonious debate at what was the bloc’s longest summit in two decades.

As the meeting reached its fifth day, the 27 exhausted heads of state and government finally gave their seal of approval to the EU jointly borrowing debt to be disbursed through grants on an unprecedented scale in the face of an economic downturn not seen since the Great Depression.

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