EU Instructs Eurogroup To Develop Economic Recovery Plan After COVID-19 Pandemic
Leaders of the EU member states instructed the Eurogroup and the European Commission to develop a financial plan for the recovery of the EU economy after the COVID-19 coronavirus pandemic. The corresponding decision was made at the summit of the leaders of the G20 countries, which took place in a video conference format on March 26, said Head of the European Council, Charles Michel, following the meeting.
The Eurogroup and the European Commission must submit their proposals within 14 days. “These proposals should take into account the unprecedented nature of the shock from the coronavirus that has affected all our countries, and our response will be strengthened as necessary,” Head of the European Council said at a press conference.
The first ever virtual G20 summit on Thursday was dedicated to the coronavirus and its consequences. As a result of the meeting, the G20 promised to inject more than $ 5 trillion into the world economy and increase overall cooperation.