Here are the official Council conclusions -EU leaders agree on €1.82T budget and coronavirus recovery package

Deal!

EU leaders agreed early Tuesday on a groundbreaking plan to jointly borrow €750 billion to respond to the coronavirus pandemic, which has killed 135,000 people around the bloc and sent economies across the Continent into a tailspin.

The EU’s recovery fund, to be composed of €390 billion in grants and €360 billion in loans, will be attached to a new €1.074 trillion seven-year budget, the Multiannual Financial Framework (MFF), on which heads of state and government also reached unanimous agreement — bringing the total financial package to €1.82 trillion.

The deal was clinched at 5:30 a.m., capping a summit that went into a fifth day and became one of the longest in EU history.

European Council President Charles Michel heralded the agreement with a one-word tweet: “Deal!” he wrote.

info

Here are the official Council conclusions.

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Πηγή: politico.eu