EU Leaders Clinch 750 Billion-Euro Coronavirus Recovery Fund

The EU has agreed on a €750 billion joint debt deal after four days of negotiations, marking a significant achievement for leaders like Emmanuel Macron and Angela Merkel. The deal includes €390 billion in grants and €360 billion in low-interest loans to support countries hit hard by the coronavirus, such as Italy and Spain. While the fund is seen as a victory for many, it also emphasizes the need for reforms, particularly for fiscally conservative countries. The agreement is viewed as a pivotal moment for European unity, shifting towards collective debt and away from traditional bailout models.

How much will the Italian government receive in grants according to the text?

What is the significance of the deal for the French President Emmanuel Macron and German Chancellor Angela Merkel?