Coronavirus: EU Leaders Reach Recovery Deal After Marathon Summit

EU leaders have struck a deal on a huge post-coronavirus recovery package following a fourth night of talks.

It will see the 27-nation bloc offering €750bn (£677bn; $859bn) in grants and loans to counter the economic impact of the pandemic.

French President Emmanuel Macron said it was a "historic day".

Talks which began on Friday saw a split between nations hardest hit by the outbreak and "frugal" members who were concerned about costs.

Indications earlier suggested that the deal would centre on a €390bn programme of grants to member states hardest hit by the pandemic.

The negotiations marked the first face-to-face meeting between the leaders since governments began imposing lockdowns in March in a bid to stop the spread of the virus.

They started in Brussels on Friday morning and became the longest EU summit since a 2000 meeting in the French city of Nice, which lasted for five days.

Source: BBC