European Union unveils $824bn coronavirus recovery plan
The European Commission has unveiled an ambitious economic plan to help its members recover from the coronavirus pandemic.
It needs their approval to borrow $824bn from the financial markets, to be distributed as grants and loans to hard-hit countries.
Al Jazeera's Assed Baig reports from London, United Kingdom.
The big day has arrived when the European Commission will lay out its vision for post-pandemic recovery funds. The plan relies on both the long-term EU budget (2021-27) and a special recovery fund.
Commission President Ursula von der Leyen is making the announcement in the European Parliament, an effort to persuade MEPs who also get a say on the final plan. As the European Commission prepares to announce its recovery fund and new EU budget to help the economy rebound from the pandemic, the 'frugal four' have called for Brussels to be 'realistic' on the size and conditions for funding. Tallahassee Mayor John Dailey discussed how things are going in his city.