BERLIN (Finance) – The European Union’s Economics Commissioner Paolo Gentiloni said that aid worth approximately 1.5 trillion euros (1.31 trillion pounds) may be needed to tackle the coronavirus pandemic.
“The Eurogroup has now made proposals for aid worth more than 500 billion euros to finance healthcare and short-time work and to help small and medium-sized companies. That leaves at least one trillion euros. This is roughly the amount we need to be dealing with now.”
– Paolo Gentiloni, EU Economics Commissioner
The funds can be raised via the European Union’s next multi-annual budget.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.