Tuesday, January 18

European Union

European Union

EU may need $1.7 trillion post-coronavirus package

By Administrator_India Capital Sands An economic support package being readied to help the European Union recover from the coronavirus crisis may need be to worth around 1.6 trillion euros ($1.7 trillion), the EU's industry chief Thierry Breton said on Tuesday. The European Commissioner for Internal Market and Services told French TV station BFM TV he was working on plans around that type of figure with Economics Commissioner Paolo Gentiloni. That would represent some 10% of EU GDP, Breton said. Member states disagree over the technical aspects of how to finance such a plan, and national leaders are expected to defer a final decision on it when they meet by videolink on Thursday, diplomats and officials told Reuters on Tuesday. There are also differences over how big suc...