EU leaders strike ‘historic’ $2 trillion deal to rebuild Europe’s economy

EU leaders strike 'historic' $2 trillion deal to rebuild Europe's economy 1

 

After almost five days of fraught discussions, European leaders have agreed to create a €750 billion ($858 billion) recovery fund to rebuild EU economies ravaged by the coronavirus crisis.

The European Commission will borrow the money on financial markets and distribute just under half of it — €390 billion euros ($446 billion) — as grants to the hardest hit EU states, with the rest provided as loans. Leaders also agreed a new EU budget of nearly €1.1 trillion ($1.3 trillion) for 2021-2027, creating combined spending power of about €1.8 trillion ($2 trillion).
#CNN #News

97 Comments on "EU leaders strike ‘historic’ $2 trillion deal to rebuild Europe’s economy"

  1. Yeah let me move there America is a joke😨

    • miamihurricane555 | July 21, 2020 at 7:06 PM | Reply

      @Zylox Dragon Most “Americans” don’t even have a passport. But the ones that do travel often. I personally have traveled to Colombia 5x’s, China, the Bahamas, Mexico, the Dominican Republic, Russia, Portugal, Cuba, Nicaragua, and Australia.

    • Isaac Abrahamsz Massa | July 21, 2020 at 7:45 PM | Reply

      dchacha4 well I’m unable to go to university due to me still being in secondary school but I’m approaching university. So what I find important is a good infrastructure for learning and that encompasses a lot. To name three things, meh, I think that about covers it.

    • Isaac Abrahamsz Massa | July 21, 2020 at 7:46 PM | Reply

      dchacha4 if I may ask, where did you go to uni on scholarship, in the U.K.?

    • Daniel Buman | July 21, 2020 at 10:35 PM | Reply

      babeloveforyour.link/byVcWK2CIOEw

  2. Susan Cruisin | July 21, 2020 at 10:40 AM | Reply

    This is because they don’t have Republican senators.

    • Yup Republican Retardation is a BIG PROBLEM here in America 🇺🇸 🙄

    • whachyagonnado | July 21, 2020 at 5:04 PM | Reply

      not much choice with a 2 party system

    • Josh Edmonds | July 21, 2020 at 6:13 PM | Reply

      @Andrew Tomlinson what do California New York and Minnesota have in common…blue states with largest number of illegal immigrants…who will vote blue no matter what…you do majority voting..do you know how many states it would take just to equal California

    • Dirk Gonthier | July 21, 2020 at 8:44 PM | Reply

      @Markus Rother We can’t help it that the left-wing looses election after election.

  3. That’s nothing compared to how much the Trumpletons robbed from the treasury and gave to the top one percent.

  4. Michael Andrew | July 21, 2020 at 10:49 AM | Reply

    EU taking the leadership role from the US.

    • @Quarknjaguar so Trump is leading? LMAOOOOO he can’t form a complete sentence and is too busy trying to pass cognitive tests with pictures. 😆😅🤣😂

    • Dirk Gonthier | July 21, 2020 at 8:50 PM | Reply

      ‘EU taking the leadership role from the US.’ This was never the intention of the EU. Nor will it ever happen. The EU isn’t interested in such a role.

    • Dirk Gonthier | July 21, 2020 at 8:56 PM | Reply

      @Macaria Elle The EU isn’t married to the USA. The EU needs to look in a changing world which alliances it will uphold. Trump isn’t the only one who puts question marks at NATO. The EU (thanks to Bush and Trump) does it too. Strengthening our ties with Russia and China is a possibility that gets openly discussed.

    • ExternalInputs | July 21, 2020 at 10:35 PM | Reply

      @1pilot2000 The EU has learned it can’t rely on the US, who usually pursue a “what is good for the US, damn everyone else” approach.

    • Suzan Peters | July 21, 2020 at 10:42 PM | Reply

      @Ordinary Mo Exactly.. Always some bad apples in the bunch..

  5. We are OK, We have bleach and magic beans

  6. thaigerstyle | July 21, 2020 at 10:49 AM | Reply

    As America is still self destructing the rest of the world begins to rebuild.

  7. Remember…America first…actually means,…America alone

  8. Donnie is fuming now because he is ignored by the European leaders. Asia and Europe are better off against the covid fight while US is struggling under the trump administration. Get rid of him in Nov election

  9. birgit mitchell | July 21, 2020 at 10:53 AM | Reply

    Good for them. Coming together they fought the virus, now they are coming together to rebuild. Trump can’t even keep one country together. America is years behind.

    • birgit mitchell 👈. You are a total hypocrite. Tell your Democrat friends (or you) to stop destroying our cities and businesses

    • Markus Rother | July 21, 2020 at 1:21 PM | Reply

      @Mike Hall This is about coronavirus relief funds in Europe. How do you Trumpers always manage to scream in your stupid talking points to distract from the issue everybody else is talking about? Is there some kind of dummy-school where you learn it?

    • F
      nohttps://youtu.be/oT6aLBBRhGA

    • Stefan Poulin | July 21, 2020 at 5:43 PM | Reply

      Very true, very outdated political structure over here. The level of dishonesty is mind boggling.

    • Pangolin Steak & Bat Gravy | July 21, 2020 at 7:31 PM | Reply

      you have no idea

  10. Notice the difference, European leaders are not bullying and calling each other names. We negotiate and reach respectful solutions.
    Once the US government did the same, about 4 years ago.

    • Isaac Abrahamsz Massa | July 21, 2020 at 5:12 PM | Reply

      perp1exed people who said the moment that the British people voted to leave the pound would collapse and there would be a recession, or when they left, were also talking the same way. It’s simply wrong to think that there wouldn’t be a Dutch economy if we left. The EU isn’t Europe, so the Netherlands isn’t disappearing from Europe, we could still trade with EU if we agree a trade deal. But think about this also, the Netherlands is responsible for 1 million jobs in America, dutch companies are the number one investor in Taiwan and were one of the richest countries in the world. We could (easily, after a couple of years) survive without being in the EU. I’m not even advocating for that, although I do think it should be considered an option if the EU would get more and more federalist, which will happen in future looking at current events in Brussels.

    • @Isaac Abrahamsz Massa
      Yes, the Netherlands is a rich country but it ows it´s wealth to the membership in the EU up to a certain degree. And if it would leave the EU – well, good luck with China, with the US, with Russia. Do you really believe that they would take you serious? Good joke.

    • Sag Ichnicht | July 21, 2020 at 5:53 PM | Reply

      @Isaac Abrahamsz Massa You know hat else I have witnessed, everyone is always the victim. Also in Europe. Poor Dutch because the Portuguese talked badly about Rutte which has a solid record of arrogant and not too nice remarks about southern Europe just as well.

    • Isaac Abrahamsz Massa | July 21, 2020 at 6:59 PM | Reply

      anonymusum when we provide one million jobs for the USA? Yes, then I would think they would take us seriously. There are big benefits to trade with the Netherlands, we have the biggest port in Europe that transports a huge amount of Chinese goods, but we’re a small country and we shouldn’t act like a country with a lot to offer, right? Nonsense, I’m not claiming we’re a world power or anything like that, but as one of the richest countries in the world, that provides so much jobs to the USA and with the biggest port in Europe for example, it is understandable to recognize that you have value in the world. As for Russia, its economy is crippled and militarily we would still be in NATO so that isn’t risky for us.

    • Isaac Abrahamsz Massa | July 21, 2020 at 7:03 PM | Reply

      Sag Ichnicht what did rutte say then? I think you’re referring to Dijsselbloem. Also we’re not playing the victim, we just want to make sure that we don’t throw OUR money away at southern countries with poorly managed economies that will, possibly, go on and break financial rules that will ensure them being unsecured for the next economic crisis. Or throw it away at countries that disregard and undermine the freedom of their judiciary or press. It doesn’t sound always playing the victim to me. It sounds like a country that is well of economically and follows all the rules not being prepared to throw away money at countries who don’t without rules.

  11. All EU countries passed their emergency funds months ago too. This is on top of that. The host makes it sound as if everyone was waiting on these negotiations.

  12. The EU, a combination of socialist, conservative, liberal and centrist countries work together to fight covid and rebuild. They can do this because they don’t hate each other and they know this is not about politics. America, one country, full of hate for fellow citizens, where even wearing a mask is too much to ask, and not even a sign, a hope of curbing the pandemic let alone recovery.

  13. Marcus B 1999 | July 21, 2020 at 11:48 AM | Reply

    The EU and the US are playing a role reversal. The EU is acting like the states. Trying to come together even when they don’t agree, and the US..well we are just falling apart by the wayside. /:

    • Orange Ziggy | July 21, 2020 at 1:30 PM | Reply

      Marcus B 1999 true

    • All I’ll say is if _all_ educated and very-concerned-now Reps and Dem’s discreetly met over a beer and a barbecue in an undisclosed location, agreed to stop fencing each other, _just_ until your finest medical minds (who are _beyond_ capable) sort this virus spread, you bundle 🍊👨🏼 and all his family into the trunk of an old studebaker and roll it into the Potomac (POtomac? p’TOmac?!) you lock *up* _every single_ -protestor- _scumbag_ wearing hoods, kneepads and teargas masks out on your streets after dark, causing needless stress during this already stressful year, and who are just obviously pretending now, (duplicitous _scum_ ) and lock *down* everything for 6 weeks, (no negotiating, just swallow the medicine)
      ..by September??.. it’s Miller time 🍻 🤟🏻🙏🏻

    • Marcus
      True, and the sad side of the story: we both need each other. Good luck guys for November – fingers crossed.

  14. Michael Myke | July 21, 2020 at 11:51 AM | Reply

    The UK left because it wants to do special deals with Trump and Xi.
    Yeah, good luck with that.

    • Yep, and I’m stuck in England. I’m sure the EU did this as a middle finger to England 😂

    • Patrick Franco | July 21, 2020 at 7:32 PM | Reply

      So just to be clear, the UK isnt gonna be part of this recovery plan (I’m mexican btw lol)

    • Patrick Franco | July 21, 2020 at 7:33 PM | Reply

      Or is it still part of the plan, even tho its technically out of the eu now?

    • Dirk Gonthier | July 21, 2020 at 9:05 PM | Reply

      @Patrick Franco No, the UK won’t be part of this plan. No money of the EU for the UK. The UK has the greatest numbers of COVID-infections. The UK has the greatest numbers of deaths per capita by COVID. The pound has (so far) lost 15% of its value compared to the Euro. And the economy of the UK crashed harder than the economy of the EU (the UK: -14%, the EU: -9%)

  15. US: Let’s go to war with Iraq for $2 trillion
    EU: Let’s rebuild an entire continent with $2 trillion

  16. “It all falls far short of the 2 Trillion US plan”. That’s because the EU plan is in ADDITION to all the measures the independent EU countries have already taken, totalling WAY more.

    • Viktor Szűcs | July 21, 2020 at 3:34 PM | Reply

      @Tobias Unknown then this is CNN on FOX level thanks to the UK

    • Yeah, the studio host really goes out of her way to compare the EU and the US on several different metrics, only to then try and make the EU-measures seem slow and small compared to the US did, although in reality those two can hardly be compared.
      As stated above you’d need to tally up all the national measures taken by the individual member state for a proper comparison, and then put this recovery-fund on top of that.

    • Yes. What a stupid anchor. All the individual states have already completed billions in bale out. This is NOT a FEDERATION you stupid woman !

    • Christian Borregaard | July 21, 2020 at 5:12 PM | Reply

      Exactly, was about to write the same..

    • Dirk Gonthier | July 21, 2020 at 8:40 PM | Reply

      @John White True the EU isn’t a federation. But this decision is a step towards federation.

  17. Andrew Gomez | July 21, 2020 at 12:46 PM | Reply

    “Europe’s Alexander Hamilton moment” : History repeats itself and the EU is closer to becoming The United States of Europe. Onward!

  18. Shatasha Griffin | July 21, 2020 at 1:04 PM | Reply

    They used to be our friends. Hell we can’t even go visit them now. I guess we got our wall!

    • TheDogfatherJT | July 21, 2020 at 4:43 PM | Reply

      Hey, don’t take it personally! This is only between our governments. European and US citizens can still be friends. And one day you’ll be able to visit Europe again.

  19. USA news is so pathetic. She had to low down the deal and say the USA got more money. Facepalm.

    • Completely ignoring the fact that individual EU states have already signed their own recovery plans & this one comes on top of all that. The fact that the EU’s recovery deal is close to half the size of the US’s which is (unlike Europe) ONE country, is a massive achievement by itself.

    • Lars Magnus Samuelsson Svenssonsenn Magnussvensamuelsson Thor | July 21, 2020 at 6:49 PM | Reply

      It was a reasonable comparison I thought, not a “low down”

  20. This deal marks a very important milestone in the march towards an ever closer union. Proud to be European! 🇪🇺

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