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photo : reuters

On Wednesday (15/7), European Union (EU) member states struggled to resolve differences over a massive recovery plan for their coronavirus-hit economies, but agreed a deal was crucial at an end-of-week summit for the bloc's credibility.  As quoted by Reuters (16/7),  with economies in free fall due to the pandemic, European leaders will hold their first face-to-face talks since lockdowns took hold from March and there were weeks of feuding over how the 27-nation bloc should respond. The Friday-Saturday summit in Brussels is the EU's next long-term budget and an economic stimulus plan that, together, would be worth around 1.85 billion Euros or US$2.1 billion dollars.  To reach an accord, many gaps will need to be bridged, especially between wealthy, thrifty northern countries and the high-debt south that has taken the brunt of the Covid crisis//Reuters