EU nations clinch $2.1T budget, virus aid deal after 4 days

BRUSSELS (AP) — Weary European Union leaders have finally clinched an unprecedented $2.1 trillion budget and coronavirus recovery fund.

They somehow found unity early Tuesday after four days and nights of fighting and wrangling over money and power in one of their longest summits ever.

To confront the biggest recession in its history, the EU reached a consensus on a 750 billion-euro coronavirus fund to be sent as loans and grants to the countries hit hardest by the virus.

That comes on top of the seven-year, 1 trillion-euro EU budget.

At first, the grants were to total 500 billion euros, but the figure was lowered to 390 billion euros.


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