The coronavirus has hit the European Union hard. In mid-July 2020, following four days of intense haggling, EU negotiators hammered out an accord to provide monetary support to member governments. The agreement gives the European Commission an extraordinary authorization to borrow money from the financial markets for a recovery fund to distribute to states in the bloc. In this brief, plain-English overview, journalists Jim Brunsden, Sam Fleming and Mehreen Khan offer a look at the proposed plan’s inner workings.
About the Authors
Jim Brunsden, Sam Fleming and Mehreen Khan are journalists with The Financial Times.