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Coronavirus: European Union unveils unprecedented 750 billion euro recovery plan

WorldNews Wednesday, 27 May 2020
Coronavirus: European Union unveils unprecedented 750 billion euro recovery planEuropean Union chief Ursula von der Leyen on Wednesday proposed a 750-billion-euro post-virus recovery fund for Europe, but will have to win over sceptical member states to push it through. The global coronavirus outbreak has already thrust the EU into its deepest ever recession, and Von der Leyen's proposal will set out to help the worst affected countries. If passed, the proposal would be the biggest EU stimulus package in history and could see Europe-wide taxes on plastics, carbon emissions and big tech — a major power boost for Brussels. Paolo Gentiloni, the EU Economic Affairs Commissioner, hailed the proposal as a "European breakthrough" that would "tackle an...
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News video: European Union unveils $824bn coronavirus recovery plan

European Union unveils $824bn coronavirus recovery plan 02:26

Package seeks to avoid a further splintering of economic growth and wealth levels among EU's 27 member states.

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