EU Leaders Clinch 750 Billion-Euro Coronavirus Recovery Fund

The EU has agreed on a €750 billion joint debt deal after four days of negotiations, marking a significant achievement for leaders like Emmanuel Macron and Angela Merkel. The deal includes €390 billion in grants and €360 billion in low-interest loans to support countries hit hard by the coronavirus, such as Italy and Spain. While the fund is seen as a victory for many, it also emphasizes the need for reforms, particularly for fiscally conservative countries. The agreement is viewed as a pivotal moment for European unity, shifting towards collective debt and away from traditional bailout models.

What was the total amount of the joint debt deal agreed upon by the European Union?

• €1 trillion

• €390 billion

• €750 billion

• €500 billion

Which two countries are expected to benefit the most from the grants provided by the deal?

• Portugal and Greece

• Netherlands and Austria

• Italy and Spain

• France and Germany

What condition did the frugal countries emphasize for the use of the funds?

• Reduction in taxes

• Investment in technology

• Immediate repayment

• Implementation of reforms

What significant change does the agreement represent in European policy?

• An increase in national taxes

• A shift towards collective debt

• A reduction in European Union membership

• A move towards individual country bailouts

How did fiscally conservative countries view the joint debt deal?

• As a permanent change in policy

• As a temporary measure for an unprecedented crisis

• As a way to increase their national debt

• As a method to reduce their influence in the EU