EU leaders undecided over COVID-19 recovery plan, block presidents push for consensus

EU leaders will be meeting their counterparts in Brussels face-to-face for the first time in five months after the borders were recently reopened. According to reports, Europe is currently heading towards the worst possible recession since the 1930s.

President of the European Commission Ursula von der Leyen and President of the European Council Charles Michel will be aiming to form a consensus on a number of key issues in a bid to reduce the negative impact of the possible recession and put in motion a COVID-19 recovery package.

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EU Presidents seek consensus

As per reports, the two main points over which a consensus must be reached are over both a long-term budget and a huge one-off economic stimulus.

In this respect, German Chancellor Angela Merkel and French President Emmanuel Macron have agreed to a whopping €750 billion ($848 billion) COVID-19 recovery fund, but that suggestion has been opposed by the northern states.

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According to reports, any effort to placate the states has resulted in angering Hungarian Prime Minister Viktor Orban and the European parliament. Moreover, an EU official told an international media portal that in order to reach a consensus, leaders must have a physical meeting because an online meeting might not achieve the goal.

Financial experts have predicted that because of the COVID-19 outbreak and the lockdown measures imposed in an effort to control them, Europe will experience an 8.3 percent drop in economic activity in 2020. However, the continent is also predicted to bounce back with a projected growth of 5.8 percent in the year 2021. 

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EU lifts travel restriction for some non-EU countries

Earlier, the European Union allowed citizens from 14 non-European countries, which have been deemed 'safe' amidst the COVID-19 pandemic, to enter the bloc. The list includes Australia, Japan, South Korea, Canada, Morocco, New Zealand, Thailand, Uruguay, Tunisia, Georgia, Montenegro, Serbia, Algeria, and Rwanda.

According to reports, the United States, China, and Brazil are not included in the list, but diplomats from the region say it is ready to exempt Chinese citizens if Beijing offers a reciprocal deal for EU travellers.

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