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European Commission unveils $827B COVID-19 recovery plan | Money Talks
07:29
Europe
European Commission unveils $827B COVID-19 recovery plan | Money Talks
The European Commission has unveiled plans for a $827 billion coronavirus recovery fund, as Europe faces its worst economic crisis since the 1930s. It includes more than $550 billion in grants for EU members worst-hit by the pandemic, as well as loans, which are favoured by the so-called frugal northern nations. The bailout still needs the approval of all 27 member states and many businesses are hoping for a quick consensus. For more, we spoke to Michele Geraci in Rome. He's an economist and former under-secretary of state at Italy's Ministry of Economic Development. #EuropeanUnion #Coronavirus #RecoveryFund
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