The European Commission is proposing a €2T recovery plan ahead of a videoconference today to discuss the next steps in tackling the healthcare conditions.
The EU currently expects output to contract by as much as 10% this year and some of the hardest-hit member states have argued for the use of joint debt sales to finance the recovery.
The draft plan also calls for the integration of a €300B recovery fund into the 2021-2027 budget and borrowing €320B on the capital markets.