EU Starts Long Trek Toward Coronavirus Bailout

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The EU has finally agreed on a financial rescue plan that involves rich countries raising money to help out poor countries:

Leaders ultimately agreed on a €750 billion recovery plan. Of that, €390 billion will be offered in grants and the rest will come in the form of loans. That is down from €500 billion recently proposed by Brussels.

Don’t get too excited yet, though. The real fireworks are yet to come as this deal starts going through the approval process at the national level. Some countries will approve it quickly but there are bound to be a few holdouts—and it seems likely that at least one of the holdouts will take things to the very last second and then either approve or disapprove by a tiny margin. That’s the EU for you.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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