Europe achieves “historical agreement” economic post pandemic

By Dennis Aguillón, Spain

After 4 days of negotiations in Brussels, the presidents of the countries that are part of the European Union, on Tuesday they achieved a “historical agreement” to launch a mega plan for economic recovery after the impact of the Covid-19 pandemic.

The agreement reached, contemplates the creation of a recovery fund, balanced on a common debt of 750.000 millions of euros (approximately 857.000 millions of dollars).

Of the total, 390.000 million euros will be used for subsidies (no refund obligation) Y 360.000 millions in loans to help the countries most affected by the health crisis.

The Summit that started last Friday with long hours of work and many proposals, ended with good news. German chancellor, Angela Merkel, stressed that "it was not easy, but in the end we meet ".

Merkel also said that "multilaterism in times of crisis becomes very pressured, but that Europe has shown in this situation to be able to act ”.

Meanwhile, the president of france, Emmanuel Macron, He showed his joy on his Twitter account by posting “Historic day for Europe!”.

To achieve this great agreement, it was necessary to give “rights” to the so-called “frugal” countries Austria, Denmark, Sweden, Holland, that cut the volume of aid to have greater control over them; and so, keep your discounts to the budget contribution.

Italy, France, Germany and Spain sought at least 400.000 million euros in subsidies while frugal 350.000 millions.

Finally the president of the european commission, Ursula Von der Leyen commented “We have taken a historic step that we can be proud of, Europe has the courage and imagination to think big ”.