Eurogroup agreed on €500 billion plan to support EU economy

The Council of Finance Ministers of the EU member-states (Eurogroup) agreed on a plan to support the European economy in the conditions of the coronavirus pandemic in the amount of €500 billion, said in a statement by the official representative of the head of the Eurogroup, Mariu Sentenu.

It is noted that the plan will be launched within two weeks, when the economy in the European Union plunges into recession. According to the representative, the meeting was held in the format of a video conference and ended with the applause of ministers.

Before the first videoconference began on Tuesday, Sentenu circulated a video message stating that the Eurogroup would approve the largest aid plan in its history with a total of €540 billion to help the economy recover from the Coronavirus pandemic. The programme should combine measures and schemes previously proposed by various EU institutions to help different sectors of the community’s economy.

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