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Blog / 23 Jul 2020

(Video) Rajya Sabha TV (RSTV) The Big Picture: Marathon EU Summit

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(Video) Rajya Sabha TV (RSTV) The Big Picture: Marathon EU Summit

Topic: Marathon EU Summit

Guest:

  • Prof. Ummu Salma Bava, (Chairperson, Centre for European Studies, JNU)
  • Pramit Pal Chaudhuri, (Foreign Affairs Editor, Hindustan Times)
  • Gurjit Singh, (Former Ambassador)

Topic Description:

Weary but relieved, European Union leaders finally clinched a deal on an unprecedented 1.8 trillion-euro budget and coronavirus recovery fund early Tuesday, somehow finding unity after four days and nights of fighting and wrangling over money and power in one of their longest summits ever. With masks and hygienic gel everywhere at the summit, which was spread over five days, the 27 leaders were constantly reminded of the potent medical and economic threat the virus poses to their continent, and grudgingly committed to a massive aid package for those hit hardest by the pandemic. To confront the biggest recession in its history, the EU will establish a 750 billion-euro coronavirus fund, partly based on common borrowing, to be sent as loans and grants to the hardest-hit countries. That comes on top of the seven-year, 1 trillion-euro EU budget that leaders had been haggling over for months even before the pandemic. The end of the tortuous process was announced by the European council president, who had been chairing the leaders’ long debates, with a single word on Twitter: “Deal!”

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Courtesy: RSTV