EU leaders agree historic €750 billion Covid-19 recovery fund following lengthy talks

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The EU leaders have reached a deal following over four days of discussion on the Covid-19 recovery package.

The €750 billion deal was sealed following extensive negotiations and numerous threats by member states.

The €750 billion recovery fund comprises of €390 billion in grants and €360 billion in loans to countries hit by the pandemic.

“Overall this is a strong package and, from the Irish and European perspective, we welcome its wide-ranging and comprehensive breadth, which I think will do a lot to help Europe respond to the challenges of Covid 19,” Taoiseach Micheál Martin said of the deal.