The European Union will need "unprecedented" investments to overcome the crisis caused by the coronavirus pandemic, the European Council said in a statement on Tuesday
BRUSSELS (Pakistan Point News / Sputnik - 01st April, 2020) The European Union will need "unprecedented" investments to overcome the crisis caused by the coronavirus pandemic, the European Council said in a statement on Tuesday.
On Tuesday, European Council President Charles Michel held a video conference with the heads of the European Commission, the European Central Bank and the Eurogroup to discuss the outcome of the March 26 meeting of EU member states' leaders, social and economic consequences of the COVID-19 crisis and further steps.
"A coordinated exit strategy, a comprehensive recovery plan and unprecedented investment are required," the statement says.
To give an impetus to the European economy, it will be necessary to use all available measures at the national and European levels, and the EU's general budget should be adapted to this crisis, the council added.
The European Council tasked the Eurogroup to present specific proposals on the issue within two weeks, it said.
