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EC wants to give an additional 11 billion euros to EU countries


May, 27 2020
watermark Economic news

The European Commission proposes to adjust the multi-year financial plan of the European Union 2014-2020 to be able to allocate an additional 11.5 billion euros to the Union countries to combat the crisis caused by coronavirus.


Every year, the EU draws up the general budgets of the union. The European Commission intends to create an additional fund to restore the EU from the crisis in the amount of 750 billion euros. The EC plans to borrow these funds in the financial markets and give countries in the form of grants (up to 500 billion euros) and loans (up to 250 billion euros).


These proposals must be approved by the EU countries and the European Parliament before the money can begin to flow in 2020.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.