EU meets to discuss economic recovery plan

The leaders of the European Union meet for the first time today face to face, since the pandemic of the Coronobrianus has erupted in mid-March.

They are expected to discuss the economic punctuation package, worth 750 billion euros, for the post-corperitus period.

The main question is how many parts of the recovery fund will be distributed as grants and as loans.

They should also agree to the seven - year budget, worth another 1,007 trillion euros.

German Chancellor Angela Merkel said ahead of the summit that the “locations are still divided”.

The recovery plan, supported by France and Germany, currently envisions 500 billion euros in grants and subsidies and 250 billion euros in loans.

States with more savings, such as Austria, Sweden, Denmark and Finland, need control over the way money is distributed.

South States, such as Italy and Spain, say such a thing would block the process.

The meeting in Brussels is expected to continue even at the weekend, but EU leaders may need more time to reach the final agreement.

The European Central Bank has already predicted a 8.7% drop in the Eurozone economy this year, due to the coronary pandemic.