Europe Plans for
Trillion-Euro Fund
to Rebuild Economy European Union leaders have agreed to
establish a fund to help regional economies
impacted by the coronavirus pandemic. EU leaders,
via statement Officials at the European Commission have been
asked to draft proposals “urgently,” detailing how
the recovery fund will factor into the
bloc’s 2021-2027 budget. The EU plans to expand
its budget from 1.2% to 2% of
Gross Domestic Product (GDP). The EU leaders signed off on a package
of immediate rescue measures worth
$538 billion earlier this month.