European Union Relaunched Plan: Historical Agreement For the 27 Member countries

French President Emmanuel Macron and 

German Chancellor Angela Merckel during a joint press conference in Brussels after the Agreement

"Historic day for Europe," French President Emmanuel Macron exclaimed on Twitter on Tuesday morning, seconds after the announcement of an agreement on a massive post-coronavirus recovery plan, found at the end of 'a marathon summit. 

In the early morning after five days of the summit, the 27 pulled off an agreement on a recovery plan of 750 billion euros, financed for the first time by a common loan, as well as on a budget for the period 2021-2027 of 1.074 billion euros. 

European leaders reached an agreement on Tuesday at dawn on the stimulus plan that should allow their economies to rebound in the face of the coronavirus epidemic which has crossed the 80,000 death mark in Brazil. It took a total of more than four days and as many nights of sometimes tense discussions for the heads of state and government of the 27 countries of the European Union to agree on the terms of this massive 750 billion stimulus plan. euros.

“Deal!”, Tweeted European Council President Charles Michel. For his part, French President Emmanuel Macron hailed a "historic day for Europe". The result of intense negotiations, the final agreement downgrades the share of subsidies in the recovery plan, a gesture in the direction of the so-called "frugal" countries - the Netherlands, Sweden, Denmark, Austria joined by Finland. 

The amount of these subsidies has been set at 390 billion, against the 500 billion initially planned and defended by Berlin and Paris in the name of European solidarity with countries like Italy and Spain, the hardest hit by the virus. 

German Chancellor Angela Merkel and French President Emmanuel Macron on Tuesday hailed a "historic" day for the EU after the agreement reached at 27 on a post-coronavirus recovery plan, during a joint press conference in Brussels. "This is a historic change in our Europe and our euro zone," said the Frenchman. "A major step has been taken." "In two months, we managed to build a consensus so that this unprecedented recovery plan becomes a decision and therefore a reality," he said. Angela Merkel said she was "very relieved" that after difficult negotiations, Europe has shown that it "can still act together". 

This is "an important signal that goes beyond Europe", "a response to the biggest crisis in the EU since its creation," she said. The head of government, Pedro Sanchez, in a separate press conference hailed "a great deal for Europe", going so far as to call it "a real Marshall Plan". 

After four days and four nights of the summit, the Europeans managed to agree on a recovery plan of 750 billion euros, financed for the first time by a common debt, and intended to revive a European economy put to earth by the coronavirus epidemic.

Cassien Tribunal Aungane, Editor