EU plans to raise $825 billion for coronavirus relief
4 years, 7 months ago

EU plans to raise $825 billion for coronavirus relief

CNN  

London CNN Business — The European Commission has proposed giving hundreds of billions of euros to EU countries that have seen their economies devastated by the coronavirus pandemic, an unprecedented relief effort designed to ensure parts of the bloc aren’t left behind when the recovery comes. “We all understand the crisis is so huge we have to take unusual steps to overcome the crisis and to get out stronger,” European Commission President Ursula von der Leyen said at a press conference. “This would allow member states to contribute to the next European budget at the same level they currently do,” von der Leyen said. “We should not forget we are in a deep crisis and we haven’t seen the end of the crisis so far,” von der Leyen said, noting the risk of bankruptcies and skyrocketing unemployment if the European Union does not act soon. Mujtaba Rahman, managing director for Europe at the consultancy Eurasia Group, told clients Wednesday that he sees the lack of funding for this year as “the single biggest weakness” of von der Leyen’s plan.

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History of this topic

German cabinet approves contested budget plan
5 months, 3 weeks ago

German cabinet approves contested budget plan

China Daily  

Germany's Chancellor Olaf Scholz arrives for the Meeting of the European Political Community at the Blenheim Palace in Woodstock, near Oxford, on July 18, 2024. The German cabinet finally approved its 2025 budget on Wednesday after weeks of negotiations, allocating a record 78 billion euros for investments and 75.3 billion euros for NATO's defense spending target, while halving funds to …

German Cabinet approves a lower 2024 budget as it eyes a return to financial ‘normality’
1 year, 6 months ago

German Cabinet approves a lower 2024 budget as it eyes a return to financial ‘normality’

Associated Press  

BERLIN — Germany’s Cabinet on Wednesday approved a draft 2024 budget that foresees lower spending, with defense among the exceptions, as Europe’s biggest economy sticks to rules limiting borrowing that were suspended during the coronavirus pandemic. Germany plans to reach a NATO target of spending 2% of gross domestic product on defense next year, a measure on which it has …

EU proposes 5 billion euros in financial aid to war-hit Ukraine
2 years, 4 months ago

EU proposes 5 billion euros in financial aid to war-hit Ukraine

India Today  

The European Commission on Wednesday proposed five billion euros in financial aid to Ukraine, in the latest installment of a promised nine-billion-euro rescue package agreed by EU leaders in May. "The situation in Ukraine requires our full support," the commission's president, Ursula von der Leyen, said in a tweet announcing the emergency loans to Kyiv. pic.twitter.com/B60lueYl0Q — Ursula von der …

Coronavirus pushed up health spending by €466 per person in 2021
2 years, 6 months ago

Coronavirus pushed up health spending by €466 per person in 2021

Dutch News  

Healthcare spending went up by €466 per person in 2021, largely as a result of coronavirus-related costs such as testing and vaccination. The statistics agency CBS said spending was 7.6% higher than in 2020, when the costs went up by 8.3% or €475 per person compared to 2019. The 2020 increases were mainly due to the €2.1 billion healthcare bonus …

Coronavirus pushed up health spending by €466 per person in 2021
2 years, 6 months ago

Coronavirus pushed up health spending by €466 per person in 2021

Dutch News  

Healthcare spending went up by €466 per person in 2021, largely as a result of coronavirus-related costs such as testing and vaccination. The statistics agency CBS said spending was 7.6% higher than in 2020, when the costs went up by 8.3% or €475 per person compared to 2019. The 2020 increases were mainly due to the €2.1 billion healthcare bonus …

EU chief: Poland’s actions will decide when it gets funds
2 years, 7 months ago

EU chief: Poland’s actions will decide when it gets funds

Associated Press  

WARSAW, Poland — The European Commission chief said Thursday that Poland’s right-wing government is responsible for fully implementing the steps on judiciary independence that will make the disbursement of billions of euros in EU pandemic recovery grants and loans for the country possible. Commission President Ursula von der Leyen was in Warsaw to officially confirm the EU executive’s long-delayed approval …

EU unveils 210 billion euro plan to ditch Russian fossil fuels, as the war in Ukraine puts pressure on energy supplies
2 years, 7 months ago

EU unveils 210 billion euro plan to ditch Russian fossil fuels, as the war in Ukraine puts pressure on energy supplies

ABC  

The European Commission has unveiled a 210 billion-euro plan for Europe to end its reliance on Russian fossil fuels by 2027, and to use the pivot away from Moscow to quicken its transition to green energy. Key points: The EU says it will invest 210 billion euros into extra energy investments by 2027 It is part of a three-pronged plan …

Top European Union official calls for more COVID vaccination efforts
3 years, 3 months ago

Top European Union official calls for more COVID vaccination efforts

India TV News  

Vaccination efforts in the European Union and outside should continue so that "this does not turn into a pandemic of the unvaccinated", said European Commission President Ursula von der Leyen. Von der Leyen made the remarks on Wednesday during her second State of the Union speech before the European Parliament in Strasbourg, France, reports Xinhua news agency. "We see worrisome …

EU nations approve a dozen pandemic recovery plans
3 years, 5 months ago

EU nations approve a dozen pandemic recovery plans

The Hindu  

approved the pandemic recovery plans of the bloc's four biggest economies and eight other member countries Tuesday, a move seen as a bellwether for an economic revival from the unprecedented recession caused by the coronavirus pandemic. In the case of France, which is to get some 40 billion euros USD 47.3 billion from the pandemic recovery fund, that would amount …

EU nations approve a dozen pandemic recovery plans
3 years, 5 months ago

EU nations approve a dozen pandemic recovery plans

Associated Press  

BRUSSELS — European Union nations approved the pandemic recovery plans of the bloc’s four biggest economies and eight other member countries Tuesday, a move seen as a bellwether for an economic revival from the unprecedented recession caused by the coronavirus pandemic. In the case of France, which is to get some 40 billion euros $47.3 billion from the pandemic recovery …

EU raises €20 billion in 10-year bond to fund virus recovery
3 years, 6 months ago

EU raises €20 billion in 10-year bond to fund virus recovery

Associated Press  

BRUSSELS — The European Commission said on Tuesday it has raised €20 billion through a 10-year bond as part of its plans to finance the 27-nation bloc’s recovery from the coronavirus crisis. EU Commission president Ursula von der Leyen said the inaugural transaction of the NextGeneration EU program is the largest ever institutional bond issuance in Europe. Von der Leyen …

EU aims to release virus recovery fund billions by summer
3 years, 10 months ago

EU aims to release virus recovery fund billions by summer

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Top European Union officials on …

EU lawmakers OK $815 billion recovery program
3 years, 10 months ago

EU lawmakers OK $815 billion recovery program

Associated Press  

BRUSSELS — European Union lawmakers on Wednesday approved a 672.5 billion euro recovery package of loans and grants to help member nations recover more quickly from the coronavirus pandemic, but countries will not receive the money for several months. The European Parliament voted 582-40, with 69 abstentions, in favor of the regulation for the Recovery and Resilience Facility, the central …

German Cabinet approves 2021 budget with high borrowing
4 years, 3 months ago

German Cabinet approves 2021 budget with high borrowing

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Germany's Cabinet on Wednesday approved …

EU offers 400 mln euros to WHO-led COVID-19 vaccine initiative
4 years, 4 months ago

EU offers 400 mln euros to WHO-led COVID-19 vaccine initiative

Live Mint  

The European Commission said on Monday it would contribute 400 million euros to an initiative led by the World Health Organization to buy COVID-19 vaccines. The EU Commission is negotiating advance purchases of COVID-19 vaccines with several drugmakers on behalf of the 27 EU states and has said in past weeks EU governments cannot buy vaccines through parallel procurement schemes. …

Dutch gov't borrowed €66 billion for Covid support
4 years, 4 months ago

Dutch gov't borrowed €66 billion for Covid support

NL Times  

The Ministry of Finance already borrowed 108 billion euros this year, the vast majority of which is reserved to fund the nearly 60 different emergency measures to help the country through the coronavirus crisis. So far the government reserved 37 billion euros for the first two sets of coronavirus support measures. For example, the government set aside over 9 billion …

European Union to Give €1.65 Million to Support Victims of Floods in South Asia
4 years, 4 months ago

European Union to Give €1.65 Million to Support Victims of Floods in South Asia

News 18  

The European Union on Tuesday said it is providing 1.65 million euro in humanitarian aid in response to severe flooding that has affected South Asia most notably Bangladesh, India and Nepal. The funding comes on top of the 1.8 million euro announced earlier this year to support families affected by a series of disasters, including Cyclone Amphan that ravaged India …

EU extends summit after deadlock over coronavirus recovery plan
4 years, 5 months ago

EU extends summit after deadlock over coronavirus recovery plan

Al Jazeera  

European Union leaders failed to agree on a massive stimulus fund to revive their coronavirus-hammered economies on Saturday after two days of fraught negotiations, but extended their summit for another day to try and overcome their differences. As the 27 leaders scurried back to their hotels after a late, inconclusive dinner, German Chancellor Angela Merkel and French President Emmanuel Macron …

EU coronavirus fund debate enters third day after tense night
4 years, 5 months ago

EU coronavirus fund debate enters third day after tense night

NL Times  

Negotiations about the form of an immense coronavirus recovery fund started up again on Sunday after the debate between European Union leaders grew tense the previous night. A report from broadcaster RTL Nieuws told of Dutch Prime Minister Mark Rutte standing firm on those issues, prompting French leader Emmanuel Macron to "frenziedly" leave talks with the group. German Chancellor Angela …

No deal in sight; EU leaders haggle over budget, virus fund
4 years, 5 months ago

No deal in sight; EU leaders haggle over budget, virus fund

Live Mint  

European Union leaders hunted for compromises Saturday on the second day of a summit to reach a deal on an unprecedented 1.85 trillion euro EU budget and coronavirus recovery fund, with tensions running high among leaders weary after months of battling the pandemic. Austrian Chancellor Sebastian Kurz said Saturday afternoon that there was “movement in the right direction,” the Austria …

EU leaders far from deal on budget and virus recovery fund
4 years, 5 months ago

EU leaders far from deal on budget and virus recovery fund

Associated Press  

BRUSSELS — European Union leaders headed into Saturday, the scheduled final day of their summit, about as far apart from reaching a deal on an unprecedented 1.85 trillion euro EU budget and coronavirus recovery fund as the seating distance imposed upon them for health reasons. After two full sessions, summit host and European Council President Charles Michel worked with individual …

Dutch gov't agrees to push extra money into development cooperation: report
4 years, 6 months ago

Dutch gov't agrees to push extra money into development cooperation: report

NL Times  

The coalition parties have come to an agreement to push a once-off amount of 500 million euros extra into the budget for foreign development cooperation, sources in The Hague told NOS. As the development cooperation budget is linked to gross national income, the economic crisis caused by the coronavirus threatened to lower this budget. But thanks to the measures the …

Coronavirus | Global fundraising meeting raises $6.9 bln, leaders want vaccine for all
4 years, 6 months ago

Coronavirus | Global fundraising meeting raises $6.9 bln, leaders want vaccine for all

The Hindu  

A global fundraising meeting on Saturday raised 6.15 billion euros from the United States, the European Commission and numerous countries to fight COVID-19, with many participants stressing that an eventual vaccine should be available to anyone who needs it. The pledging summit, part of a joint initiative by the EU executive and advocacy group Global Citizen, also included a globally …

Frugal four call for responsible pandemic spending ahead of EU leaders talks
4 years, 6 months ago

Frugal four call for responsible pandemic spending ahead of EU leaders talks

Dutch News  

The Netherlands and its partners in the ‘frugal four’ group of European countries have again reiterated their support for loans to aid economic recovery and warned that all spending must be responsible, this time in a letter in the Financial Times. Dutch prime minister Mark Rutte and the leaders of Sweden, Denmark and Austria set out their vision ahead of …

Frugal four call for responsible pandemic spending ahead of EU leaders talks
4 years, 6 months ago

Frugal four call for responsible pandemic spending ahead of EU leaders talks

Dutch News  

The Netherlands and its partners in the ‘frugal four’ group of European countries have again reiterated their support for loans to aid economic recovery and warned that all spending must be responsible, this time in a letter in the Financial Times. Dutch prime minister Mark Rutte and the leaders of Sweden, Denmark and Austria set out their vision ahead of …

ECB and Germany throw a wall of money at the coronavirus recession
4 years, 7 months ago

ECB and Germany throw a wall of money at the coronavirus recession

CNN  

London CNN Business — Europe is throwing money at the region’s deepest downturn since the Great Depression. The announcement comes after Germany’s government approved a €130 billion stimulus package to kickstartthe recovery in Europe’s biggest economy, offering new tax breaks and incentives for electric car purchases. “The combination of the fiscal policy and the monetary policy … that hopefully will …

Coronavirus could cause a new euro crisis: Dutch Planning Office
4 years, 7 months ago

Coronavirus could cause a new euro crisis: Dutch Planning Office

NL Times  

The coronavirus crisis could lead to a new euro crisis, the Netherlands office for economic policy analysis CPB said after analyzing the vulnerabilities of the financial system. Despite coronavirus support measures implemented by the government, businesses and households are facing increasing financial difficulties. It showed that a quarter of small and medium sized businesses need more money than support measures …

EU coronavirus recovery negotiations will take time, cautions Dutch PM
4 years, 7 months ago

EU coronavirus recovery negotiations will take time, cautions Dutch PM

Dutch News  

The Netherlands is involved in ‘intensive and constructive’ contact with other EU countries and members of the European Commission about plans to set up a multi billion euro coronavirus recovery fund, prime minister Mark Rutte told reporters on Wednesday evening. Encouraged Austria’s chancellor Sebastian Kurz told Politico.eu that he and the other leaders of the frugal four group have been …

EU coronavirus recovery negotiations will take time, cautions Dutch PM
4 years, 7 months ago

EU coronavirus recovery negotiations will take time, cautions Dutch PM

Dutch News  

The Netherlands is involved in ‘intensive and constructive’ contact with other EU countries and members of the European Commission about plans to set up a multi billion euro coronavirus recovery fund, prime minister Mark Rutte told reporters on Wednesday evening. Encouraged Austria’s chancellor Sebastian Kurz told Politico.eu that he and the other leaders of the frugal four group have been …

European Union unveils $824bn coronavirus recovery plan
4 years, 7 months ago

European Union unveils $824bn coronavirus recovery plan

Al Jazeera  

Package seeks to avoid a further splintering of economic growth and wealth levels among EU’s 27 member states. The European Commission on Wednesday released details of a coronavirus economic relief package for member countries worth 750 billion euros. The blueprint envisions borrowing the funds and disbursing them as grants and loans to member states, with the lion’s share of aid …

The EU is still divided over coronavirus relief. That could tear it apart
4 years, 7 months ago

The EU is still divided over coronavirus relief. That could tear it apart

CNN  

London CNN Business — A fight over how to fund the European Union’s recovery from the coronavirus pandemic is stoking tensions between wealthier and poorer countries, threatening to delay the region’s economic rebound and unleash political and financial forces that could pull the bloc apart. If we have another asymmetric recovery, then it will be very bad for the EU.” …

France and Germany back €500bn fund to help save EU
4 years, 7 months ago

France and Germany back €500bn fund to help save EU

The Telegraph  

France and Germany have proposed a €500bn recovery fund for struggling European Union economies as they battle to quell bitter infighting over the bloc's halting response to the Covid-19 catastrophe. Under new plans presented by French president Emmanuel Macron and German chancellor Angela Merkel, the 27 EU members would borrow jointly on financial markets to offer grants rather than loans …

EU agrees first part of coronavirus economic rescue, but job not done yet
4 years, 8 months ago

EU agrees first part of coronavirus economic rescue, but job not done yet

The Hindu  

Euro zone governments gave their final approval on Friday to the first part of a 540 billion-euro rescue plan for states hit hard by the coronavirus pandemic, although other elements of the rescue package have yet to be agreed on. Finance ministers of the 19-nation region signed off on the details of cheap, long-term credit lines that will be made …

EU agrees budget, recovery plan needed to beat virus impact
4 years, 8 months ago

EU agrees budget, recovery plan needed to beat virus impact

Associated Press  

BRUSSELS — European Union leaders agreed Thursday to revamp the EU’s long-term budget and set up a massive recovery fund to tackle the impact of the coronavirus and help rebuild the 27-nation bloc’s ravaged economies, but deep differences remain over the best way to achieve those goals. “There is only one instrument that can deliver this magnitude of task behind …

Europe commits to €500 billion coronavirus support package; "Sensible and solidary", Dutch FM says
4 years, 9 months ago

Europe commits to €500 billion coronavirus support package; "Sensible and solidary", Dutch FM says

NL Times  

After a failed marathon meeting of some 16 hours on Tuesday, the Eurogroup managed to come to an agreement to help the EU countries most affected by the coronavirus crisis. The agreement "was not without a struggle", Minister Wopke Hoekstra of Finance said to NU.nl, but he is satisfied with the package, calling it "sensible and solidary". The European Finance …

Europe has a rescue package. But who’s going to pay for its coronavirus recovery?
4 years, 9 months ago

Europe has a rescue package. But who’s going to pay for its coronavirus recovery?

CNN  

London CNN Business — EU finance ministers have approved €500 billion in stimulus measures designed to cushion the blow to their economies from the coronavirus pandemic, while leaving open the difficult question of how to pay for the region’s recovery. The deal was announced Thursday after weeks of back and forth over how to address the crisis, a bruising process …

EU ministers fail to agree virus economic rescue in lengthy talks
4 years, 9 months ago

EU ministers fail to agree virus economic rescue in lengthy talks

Al Jazeera  

Sixteen-hour all-night talks fail to produce results, with a reported clash between Italy and the Netherlands. European Union finance ministers failed to agree in all-night talks on more support for their coronavirus-hit economies, and their chairman said on Wednesday morning he was suspending the discussions until Thursday. The Dutch say ‘no’.” An official who participated in the talks said at …

Dutch propose EU corona medical fund, will contribute up to €1bn
4 years, 9 months ago

Dutch propose EU corona medical fund, will contribute up to €1bn

Dutch News  

The Netherlands has proposed establishing an EU emergency fund to cover the immediate health costs associated with the coronavirus outbreak and, according to Trouw, is prepared to contribute around €1bn. The fund, prime minister Mark Rutte said during Wednesday’s debate in parliament, would be filled by contributions by member states and would be a ‘gift to those in need’ rather …

Dutch propose EU corona medical fund, will contribute up to €1bn
4 years, 9 months ago

Dutch propose EU corona medical fund, will contribute up to €1bn

Dutch News  

The Netherlands has proposed establishing an EU emergency fund to cover the immediate health costs associated with the coronavirus outbreak and, according to Trouw, is prepared to contribute around €1bn. The fund, prime minister Mark Rutte said during Wednesday’s debate in parliament, would be filled by contributions by member states and would be a ‘gift to those in need’ rather …

Netherlands willing to contribute €1 billion to EU coronavirus fund
4 years, 9 months ago

Netherlands willing to contribute €1 billion to EU coronavirus fund

NL Times  

The Dutch government is willing to contribute up to 1 billion euros to a yet-to-be-established European fund aimed at dealing with the coronavirus, Minister Wopke Hoekstra of Finance said. "I am thinking roughly of a few hundred million to 1 billion euros," Hoekstra said to NU.nl on Wednesday. Hoekstra stressed that the Netherlands is and will remain vehemently against so-called …

U.S. Senate unanimously passes $2.2 trillion coronavirus rescue package
4 years, 9 months ago

U.S. Senate unanimously passes $2.2 trillion coronavirus rescue package

The Hindu  

The U.S. Senate late Wednesday passed an unparalleled $2.2 trillion economic rescue package steering aid to businesses, workers and health care systems engulfed by the coronavirus pandemic. The drive by leaders to speed the bill through the Senate was slowed as four conservative Republican senators from states who economies are dominated by low-wage jobs demanded changes, saying the legislation as …

France says ’we are at war’ against coronavirus
4 years, 9 months ago

France says ’we are at war’ against coronavirus

Live Mint  

coronavirus, coronavirus update, coronavirus France, coronavirus outbreak in France, French president Emmanuel Macron coronavirus pandemic, coronavirus in France, coronavirus cases in France, European Union, fight against coronavirus, coronavirus news, coronavirus latest news, coronavirus latest update, coronavirus livemint, health, science European leaders attempted to prepare their citizens for the unprecedented trials ahead as comprehensive curbs on national life come into force …

Schumer announces $8.5 billion request for emergency coronavirus funding
4 years, 10 months ago

Schumer announces $8.5 billion request for emergency coronavirus funding

CNN  

CNN — Senate Democrats have made a request for $8.5 billion to combat the coronavirus, setting up a spending showdown in Congress where lawmakers are grappling with how to help contain the disease. Senate Minority Leader Chuck Schumer, a Democrat from New York, formally released a proposal on Wednesday for the emergency funding, saying in a statement that it “brings …

A trillion euros
4 years, 11 months ago

A trillion euros

Wired  

Via POLITICO EUROPE: Commission President Ursula von der Leyen on Monday in Luxembourg committed to raising, by 2030, €1 trillion for the fight against climate change. “Climate change is an enormous challenge, so we have to think and act big,” Commission Executive Vice President Valdis Dombrovskis told Playbook, admitting that today will present the first credibility test for the new …

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