Europe is facing the biggest economic downturn since World War II, and the EU must give an appropriate response by reaching an agreement on the bloc's economic recovery plan, as the principles of European unity and solidarity are at stake, Greek Prime Minister Kyriakos Mitsotakis said on Friday upon arriving at the first in-person summit of the EU leaders since the beginning of the pandemic
ATHENS (Pakistan Point News / Sputnik - 17th July, 2020) Europe is facing the biggest economic downturn since World War II, and the EU must give an appropriate response by reaching an agreement on the bloc's economic recovery plan, as the principles of European unity and solidarity are at stake, Greek Prime Minister Kyriakos Mitsotakis said on Friday upon arriving at the first in-person summit of the EU leaders since the beginning of the pandemic.
"Over the past three months, we have come a long way in coming up with an ambitious response to the COVID-19 crisis. And there is absolutely no reason why we cannot get a deal [on the economic recovery plan] done at the summit. What is at stake? The principles of European unity and European solidarity," Mitsotakis said.
According to the minister, since the EU is facing the biggest economic downturn since World War II, some compromises may be needed to ensure that an ambitious solution to the crisis is reached.
During the summit, the EU leaders are set to agree on the bloc's long-term budget totaling 1.074 trillion Euros ($1.226 trillion) and the largest economic recovery plan, worth 750 billion euros, which is to include 500 billion euros in grants and 250 billion euros in loans for EU nations.
