European Union leaders unveiled a €750 billion coronavirus recovery plan on Wednesday that would help its continental members navigate the prospect of its deepest recession in more than a quarter-century.
The unprecedented borrowing package, which will require unanimous approval from all 27 E.U. member nations and European Parliament, would provide 500 billion euros in grants and 250 billion euros in loans, worth about US$825 billion in all. The E.U. is the world's biggest economy and trading partner.