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Posted by: trm.md
News / International
28 May 2020 / 13:02
Billion euro plan to save the 27 member states
The European Commission has presented a billion-euro plan to rescue the 27 member states hard hit by the crisis following the COVID-19 epidemic. The draft is to be adopted by the European Parliament. The money will be provided in the form of grants, but also loans.
In total, the European Commission is offering a special package of €1.850 billion. The first €750 billion that will be allocated are from an emergency fund.
"What started with such a small, invisible virus has become an economic crisis. The European Commission wants to mobilize a total of €750 billion, of which €500 billion in grants and €250 billion in loans," said the President of the European Commission, Ursula Von Der Leyen.
Such a financial package will need the approval of all 27 Member States. Italy would be the largest beneficiary, with more than €153 billion in loans and grants, followed by Spain, with almost €150 billion. France will receive €78 billion. In addition, the commission wants to impose higher taxes on pollution, imported dangerous goods and the business of internet giants, especially American companies. However, this plan was rejected.
"What started with such a small, invisible virus has become an economic crisis. The European Commission wants to mobilize a total of €750 billion, of which €500 billion in grants and €250 billion in loans," said the President of the European Commission, Ursula Von Der Leyen.
Such a financial package will need the approval of all 27 Member States. Italy would be the largest beneficiary, with more than €153 billion in loans and grants, followed by Spain, with almost €150 billion. France will receive €78 billion. In addition, the commission wants to impose higher taxes on pollution, imported dangerous goods and the business of internet giants, especially American companies. However, this plan was rejected.
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