EU finance chiefs agree on 540-billion-euro virus rescue package

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

EUROPEAN Union (EU) finance ministers have agreed on a 540-billion-euro (S$835.3 billion) package of measures to combat the economic fallout of the global coronavirus pandemic. Read more at The Business Times.

"Today, we agreed on three safety nets and a plan for the recovery to ensure we grow together and not apart once the crisis is behind us," Mario Centeno, the Portuguese finance minister who runs the so-called eurogroup meetings, told reporters.

All of it needs approval by government leaders as early as next week, and tensions persist. With several key divisions papered over on Thursday, disagreements are likely to resurface when leaders are called to sign off. While the virus's reach has been indiscriminately global, most countries have acted alone and in their own interests. Europe's more frugal north is pitted against Italy and Spain, the worst-affected countries, in a climate of mistrust and simmering resentment.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Bank of England agrees to finance UK government if markets turn sourLONDON: The Bank of England has agreed temporarily to lend money to the government to fight the spread of COVID-19 if funds cannot immediately be ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »