European Union adopts support plan worth 500 billion euros

(Patria) – Finance ministers of the European Union have adopted a proposal for an emergency plan aimed at limiting the negative consequences of the pandemic on the European economy.

Member states have reached an agreement on a plan totaling 500 billion euros.

Portuguese Finance Minister Mario Centeno commented for Euronews that 'the plan contains concrete and ambitious proposals that were unthinkable just a few weeks ago'.

- We can all recall the response to the crisis of the past decade when Europe reacted too late and did too little. This time it is different, Centeno emphasized, adding that the proposal envisages 'a strong response that Europe needs'.

The amount of 500 billion euros will be immediately available to EU countries struggling with the pandemic.