European Union Proposes $825 Billion Coronavirus Recovery Plan

The video discusses the EU's Next Generation EU plan to aid member countries' economic recovery post-COVID-19. The plan involves $825 billion, with two-thirds as non-repayable grants and the rest as loans. Italy and Spain could receive up to $88 billion each, while France, Poland, and Germany have different allocations. The EU will borrow the funds and start repayment in 2028. The plan requires approval from all 27 EU members, emphasizing unity and collective recovery.

What is the primary goal of the Next Generation EU plan?

• To promote cultural exchange programs

• To increase military spending

• To help EU countries recover economically from the pandemic

• To expand the EU's territory

How much in grants can Italy and Spain apply for under the Next Generation EU plan?

• $100 billion

• $88 billion

• $31 billion

• $42 billion

Which country is eligible for around $31 billion in grants?

• Spain

• Poland

• Germany

• France

When does the EU plan to start repaying the borrowed $825 billion?

• 2025

• 2028

• 2023

• 2030

What is required for the Next Generation EU plan to move forward?

• Approval from the European Parliament

• Approval from the World Bank

• Approval from all 27 EU member states

• Approval from the United Nations