{"id":21990,"date":"2020-04-20T20:25:31","date_gmt":"2020-04-20T19:25:31","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=21990"},"modified":"2020-04-20T20:25:31","modified_gmt":"2020-04-20T19:25:31","slug":"eu-mulls-rolling-out-1-1tln-to-put-economy-on-track","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/eu-mulls-rolling-out-1-1tln-to-put-economy-on-track\/","title":{"rendered":"EU mulls rolling out $1.1tln to put economy on track"},"content":{"rendered":"\n<p><strong>By Chris Ndibe<\/strong><\/p>\n\n\n<p>In order to repair its economy after the coronavirus pandemic, European Union (EU) reports it must roll out a further 1 trillion euros (1.1 trillion dollars).<\/p>\n\n\n<p>This is according to a top EU economics official ahead of an EU leaders\u2019 summit this week.<\/p>\n\n\n<p>The package of short-term measures worth 540 billion euros agreed by EU finance ministers two weeks ago is not enough, EU Economy Commissioner Paolo Gentiloni told German news magazine Der Spiegel on Monday.<\/p>\n\n\n<p>The 27-country bloc is bracing for the worst economic contraction in decades, with the member states divided over how much and what fiscal firepower to roll out.<\/p>\n\n\n<p>EU governments are drawing up their visions for a shared recovery plan agreed in principle by finance ministers, the details of which would be under discussion at a video conference.<\/p>\n\n\n<p>Italy, France and Spain believe shared debt in the form of bonds is necessary, while Germany and the Netherlands strongly oppose the move.<\/p>\n\n\n<p>Madrid suggested a 1.5-trillion-euro recovery fund on Monday, El Pais newspaper reported.<\/p>\n\n\n<p>The EU\u2019s executive arm, the European Commission, believes a compromise could be a dedicated fund within the next common EU long-term budget, for 2021-27.<\/p>\n\n\n<p>The commission could issue bonds to borrow from financial markets with the fund, and the EU states would act as guarantors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Chris Ndibe In order to repair its economy after the coronavirus pandemic, European Union (EU) reports it must roll out a further 1 trillion euros (1.1 trillion dollars). This is according to a top EU economics official ahead of an EU leaders\u2019 summit this week. The package of short-term measures worth 540 billion euros [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125],"tags":[],"class_list":["post-21990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EU mulls rolling out $1.1tln to put economy on track - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/eu-mulls-rolling-out-1-1tln-to-put-economy-on-track\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU mulls rolling out $1.1tln to put economy on track - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"By Chris Ndibe In order to repair its economy after the coronavirus pandemic, European Union (EU) reports it must roll out a further 1 trillion euros (1.1 trillion dollars). 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