EU Leaders Clinch 750 Billion-Euro Coronavirus Recovery Fund

EU Leaders Clinch 750 Billion-Euro Coronavirus Recovery Fund

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Business, Social Studies, History

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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.

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

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

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

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

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