accepts a $ 500 billion bailout package
The Finance Minister of the European Union has approved a package worth 50,000 dollars (430 billion dollars; 540 billion dollars 540 billion dollars) for European countries affected by coronavirus infection.
Euruwai Mario Centeno president announced a deal after a marathon in Brussels.
The Spanish Prime Minister said that the country will soon survive the spread of the coronavirus.
Spain has the largest number of confirmed cases in Europe – 152,446 people, and more than 15,000 people killed.
The head of the International Monetary Fund warned that the world was experiencing the worst economic crisis since the Great Depression of the 1930s.
Kristalina Georgieva said the coronavirus would turn economic growth into “difficult” this year.
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In their speech in Brussels, EU ministers were unable to accept France and Italy’s request to share the cost of the crisis by issuing so-called crowns.
The agreed final package is smaller than that provided by the European Bank (ECB).
The European Central Bank said the blockade could take 1.5 trillion euros (1.3 trillion pounds) to overcome the crisis.
However, French Finance Minister Bruno Le Mayor presented the deal as the most important economic plan in European Union history.
“Europe has decided and is ready to face the severity of the crisis,” he said on Twitter after the speech.
A key component of the bailout is the European Stability Mechanism, the European Union’s rescue group, which will provide 240 billion euros to guarantee the debt of the debt-ridden countries.
The European Union has also approved other measures, including 200 billion euros in the form of guarantees from the European Investment Bank and the European proposal for short-term projects.
On Wednesday, the minister reached an agreement, but negotiations stopped and they had to be reopened after a day in a dispute between Italy and the Netherlands over how to carry out the restoration.
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“This is not the best time,” said a diplomat from a powerful European Union country. “Our response has been delayed because of nationalism. Solidarity went out of the window with the goal of the first coronavirus. “
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The coronavirus has revealed deep divisions in Europe, with Italy and Spain accusing the northern countries – led by Germany and the Netherlands – of not doing much.
For the breach of the agreement, Italian Prime Minister Giuseppe Conte told the BBC that the European Union should accept the so-called “biggest challenge since World War II”.
Conversion rates are slowing in Italy. The latest data shows successful cases, more than 1% more than the previous day. Two weeks ago, the growth was 7%. The death toll has also decreased.
Spanish Prime Minister Pedro Sanchez said the situation was improving. On Thursday, he told the Madrid deputies, “We have started to control the fire.”
He pledged that there would be a “complete victory” for the virus in the country. According to the latest data in the past 24 hours, 683 deaths were recorded in Spain, compared to 757 last Wednesday.
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Today, leaders are starting to improve.
In the coming weeks, a small store will open in Austria and the Czech Republic. The school will open 15 schools and kindergartens on April 15 and in Norway on April 20.
Even Italy is considering a long time step to stop.