At the end of the five-day marathon summit in Brussels, the leaders of the 27 European Union countries reached an agreement on a historical plan for the economic recovery of the post-Covid 19-pandemic.
The value of this plan is 750 billion euros, which will be funded for the first time in the history of the conglomerate by a collective loan, to which a long-term budget for the European Union (2021-2027) will be added, valued at 1074 billion euros.
In this context, German Chancellor Angela Merkel indicated that "the agreement reached by the European Union on a huge fund to recover from the effects of the Coronavirus pandemic, shows that the bloc countries are able to work together even during their biggest crises, as well as their willingness to take new paths in circumstances other than usual."
Merkel considered during a joint press conference with French President Emmanuel Macron, that "this agreement represents an important signal that transcends the borders of the European Union, and it was clear that with all the different backgrounds of the members of the bloc, we are able to move and work," affirming that "the results of the European Union summit do not only reflect a common approach to the financial rules, but also to the rule of law."
In turn, the French president praised the agreement on the plan for economic restoration, saying that "this agreement is a historic day for Europe."
Source (Al-Rai Newspaper-Kuwait, Edited)
