Four days after the violent negotiations, the European Union leaders reached an agreement on a historic stimulus package that the euro area will witness with the 27 member states unanimously
agreeing to issue 750 billion euros ($ 860 billion) of joint debt bonds to help the member states within the union in limiting the economic decline.
The emergency fund will provide 390 billion euros in loans and 360 billion euros in low-interest loans.
We would prefer to imply that the agreement of the EU leaders throughout the ECU Union economic summit in Bruxelles for a primary time since the natural event of the Coronavirus, that treated the
discussion of the ECU Union’s long-run budget and ways that to endure the negative repercussions of the natural event of the Coronavirus represents a conclusion for German Chancellor Angela Merkel and
French President Emmanuel Macron who drafted Early agreement in May.
Within the same context, a senior Italian official expressed that Italia, the third-largest economy within the monetary unit space, and therefore, the original European center of the epidemic, can possibly be the largest beneficiaries of the
plan and that it is expected to obtain grants from the European Emergency Fund worth 82 billion euros and low-interest loans of 127 billion euros,
and that According to the initial estimates of most of the international news agencies.