The EU finally reached a 750 billion euro aid economic plan
After four consecutive days of the conference, the European Union finally reached an economic aid package of 750 billion euros at around noon, Hong Kong time yesterday. This is a historic moment. For the first time, the 27 EU member states are willing to jointly issue bonds, share debts, and distribute the funds raised by the EU. Consistent with previous reports, of the 750 billion euros of funds, 390 billion euros will be used to subsidize countries that have suffered severely economically affected by the epidemic, and the remaining 360 billion euros will be loaned to countries in need at low interest rates.
Regarding the US $ 1 trillion rescue plan for the U.S. economy, the two parties still have great differences.
U.S. Treasury Secretary Mnuchin discussed his US$1 trillion rescue plan with the Democratic Party, including the Speaker of the House of Representatives Pelosi. After the meeting, they pointed out that there are still big differences between the two parties on how to use funds. However, both parties expect to pass the plan before the end of this month.
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