EU Starts Long Trek Toward Coronavirus Bailout

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The EU has finally agreed on a financial rescue plan that involves rich countries raising money to help out poor countries:

Leaders ultimately agreed on a €750 billion recovery plan. Of that, €390 billion will be offered in grants and the rest will come in the form of loans. That is down from €500 billion recently proposed by Brussels.

Don’t get too excited yet, though. The real fireworks are yet to come as this deal starts going through the approval process at the national level. Some countries will approve it quickly but there are bound to be a few holdouts—and it seems likely that at least one of the holdouts will take things to the very last second and then either approve or disapprove by a tiny margin. That’s the EU for you.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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