Business Maverick: EU Proposes $858 Billion Stimulus With $446 Billion in Grants

European Council President Charles Michel distributed the latest plan on Monday, which would include 390 billion euros of grants, down from an initial 500 billion euros, and 360 billion euros of low-interest loans, according to a copy of the proposal seen by Bloomberg.The new plan seeks to break an impasse between fiscal conservatives in northern Europe and a majority who want decisive action to help the southern nations hardest hit by the coronavirus pandemic.

Leaders have been warning that an accord is far from a given, though they have been sounding cautiously optimistic over the past few hours. All 27 member states need to agree before the plan can move forward.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BUSINESS MAVERICK: Super reach: Vodacom’s mighty mobile market in the makingImagine one platform that offers merchants access to 43-million customers... Vodacom is taking steps to make that happen.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK OP-ED: Little tax room to manoeuvre as Covid-19 pandemic triggers bleaker contractionSouth Africa’s growth outlook for 2020/2021 was bleak even before the Covid-19 pandemic. Now, with the contraction triggered by the pandemic, there is expected to be, at least, a 7.2% contraction in the South African economy, with widespread losses of jobs and livelihoods, food insecurity and business insolvencies – and a shrinking tax base.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: SARB’s MPC is likely to cut rates further this week as economy crumblesSARB’s MPC is likely to cut rates further this week as economy crumbles.
Source: dailymaverick - 🏆 3. / 84 Read more »

MARKET WRAP: JSE firms on ongoing stimulus talks‘The dollar was firmer against most currencies today with the exception of the euro as markets await the outcome of EU stimulus talks’
Source: BDliveSA - 🏆 12. / 63 Read more »