it Became known that the package will consist of grants and loans for each of the 27 member States of the EU of 500 billion euros in grants for the most affected by the pandemic in southern Europe, primarily Italy, Spain and Greece, and 250 billion euros in loans. According to the head of the European Commission, it can be raised by raising the ceiling of EU resources of up to two percent of the gross national income of the European community. “Things that we take for granted has been questioned. None of this can be fixed any separate country,” said Ursula von der Leyen, speaking before the deputies of the European Parliament, adding that for Europe “an historic moment”.
according to observers, the pandemic coronavirus led to a sharp reduction in economic performance of member countries of the European Union, although even before the crisis in several southern European countries had large debts to the community. Spain and Italy recorded the highest number of deaths in the EU during the pandemic and after the financial crisis, according to experts, they are particularly interested in grants, not loans that will only add debt to their large public debt.
According to the head of the European Commission, when added to the initial rescue package in the amount of 540 billion euros the total amount of EU financial support will amount to 2.4 trillion euros. The European Commission said that “the four freedoms of the EU should be fully restored, namely the freedom of people, goods, services and capital”. The money raised on capital markets is scheduled to return to the General budget of the European Union for 30 years between 2028 and 2058 for years, but not later, said in Brussels. These funds can be returned in several ways: by introducing a tax on carbon emissions, digital tax, tax on raw plastic products and items made of plastic.
however, some EU countries are mind regarding the allocation of gratuitous grants to other States. Against this, in particular, are the government of Austria, the Netherlands, Denmark and Sweden.
the European Central Bank played a key role in helping the Eurozone to overcome the debt crisis through the stimulus program of bond purchases. But fears about the future of the program the ECB has already expressed earlier in some countries-EU members. Moreover, in may the Supreme court ruled that the program “violated the German Constitution.”