European Union leaders are preparing a package of measures to stimulate the economy, similar to the post-war “Marshall Plan,” in connection with the coronavirus pandemic, said European Council President Charles Michel.
On March 26, European Union leaders will discuss a package of measures to revive the economy in connection with the COVID-19 coronavirus pandemic. This was announced in an interview with the Belgian television channel LN24 on March 25 by the President of the European Council Charles Michel.
According to him, it is planned to implement an incentive strategy similar to Marshall’s post-war plan.
Measures to overcome the effects of the economic shock should mobilize capital within the European budget, national funds and attract private sector investment, the head of the European Council said.
The crisis has already influenced the negotiations on the EU budget for 2021–2027, Michelle admitted.
The Marshall Plan is a program to help Europe after World War II. It was developed in 1947 by US Secretary of State George Marshall and went into effect in April 1948. The goal of the plan was to restore the economy destroyed by the war, remove trade barriers, and modernize industry. The program was attended by 17 European countries.
The COVID-19 outbreak began at the end of 2019 in China. March 11, the World Health Organization announced the spread of coronavirus pandemic.
According to American Johns Hopkins University, on March 26, the total number of people infected in the world exceeded 480 thousand, of which 21 571 people died, about 116 thousand recovered.