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Commission president Ursula von der Leyen spoke in the European Parliament with MEPs respecting social distancing in the plenary chamber (Photo: European Parliament)

Mix of loans and grants in Commission €750bn package

The EU Commission unveiled on Wednesday (27 May) plans to borrow up to €750bn on the markets, to fund a recovery package kickstarting a European economy now facing its deepest recession in history.

The EU executive also proposed to a 2021-2027 EU budget of €1.1 trillion, which is higher than then the latest compromise proposal of EU Council president Charles Michel of €1.095 trillion in February.

"The boldest measures are the safest for the future," commission president Ursula v...

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Author Bio

Eszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.

Commission president Ursula von der Leyen spoke in the European Parliament with MEPs respecting social distancing in the plenary chamber (Photo: European Parliament)

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Author Bio

Eszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.

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