EU strikes €500bn relief deal for countries hit hardest by pandemic
by Daniel Boffey in Brussels from Economics | The Guardian on (#51Y1D)
Compromise reached after Netherlands relents on 'economic surveillance' of beneficiary nations
A messy compromise to unlock a500bn (438bn) of EU support for countries hit hardest by the coronavirus pandemic has been struck after Italy's prime minister, Giuseppe Conte, warned that the existence of the bloc was at stake.
EU finance ministers on a video conference call struck a deal late on Thursday after the Netherlands shifted on a demand for "economic surveillance" of countries benefiting from a240bn of credit lines via the European stability mechanism, a bailout fund for struggling member states.
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