European Council reaches an agreement about the European response to the pandemic

29/04/2020

The Members of the European Council reached an agreement about the European response to the pandemic and welcomed the Joint European Roadmap toward lifting of Covid-19 containment measures.

The second part of this agreement is the Joint Roadmap for Recovery: a document that reflects the need for a comprehensive recovery plan and unprecedented investment that will help us relaunch and transform the economies.

This plan defines four key areas for action: a fully functioning Single Market, an unprecedented investment effort, acting globally, and a functioning system of governance.

Following the meeting of the Eurogroup on 9 April 2020, the agreement was endorsed on three important safety nets for workers, businesses and sovereigns, amounting to a package worth 540 billion euros. They called for the package to be operational by 1 June 2020.

They also agreed to work towards establishing a recovery fund. Leaders tasked the Commission to analyse the exact needs and to urgently come up with a proposal.

They also agreed to work towards establishing a recovery fund that shall be of a sufficient magnitude, targeted towards the sectors and geographical parts of Europe most affected.

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