EU endorses huge salvation plan to confront Corona pandemic repercussions

Brussels (ST): EU finance Ministers have endorsed a huge rescue plan estimated at 500 billion euros to help member states overcome the adverse consequences of the Corona virus pandemic, but the plan ignored a joint Italian -Spanish and French request that enables them to obtain loans.

Germany, the strongest member of the EU, rejected the request which will be discussed by the ministers when they meet  later this month.

The final communique issued by the ministers said that the salvation package would be mainly dedicated for the costs resulting from Covid 19 pandemic which claimed the lives of more than 65000 people in the continent.

European economists said that the plan did not meet the requirements that enable the European economy to revive again after the end of the crisis.

K.Q.