EU is set to propose a new stimulus package to help the bloc recover from the economic damage caused by the coronavirus pandemic
President of European Commission, Ursula Von der Leyen speaks during a mini plenary session of European Parliament in Brussels, Belgium, on March 26, 2020. Due to Coronavirus pandemic, plenary session is reduced to one day and mainly operated as a video conference.
"To ensure recovery the Commission will propose changes in the MFF proposal that will allow to address the fallout of the coronavirus crisis," von der Leyen said in a statement."This will include a stimulus package that will ensure that cohesion within the Union is maintained through solidarity and responsibility," she added.Last month, EU leaders failed to reach agreement on an extension to the upcoming seven-year budget plan, for the years, 2021 to 2027.
That has changed the outlook of many political leaders, with the whole EU bloc facing the prospect of slipping into recession by the end of the year. "In parallel the Commission is working on proposals for the recovery phase within the existing treaties."
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