Economics
EU Aims to Back Struggling South With Fiscal Shock and Awe
- 500 billion euros would be sent as grants to member states
- The proposal will need the agreement of all 27 EU nations
People wearing protective masks walk through Gae Aulenti square in Milan, on May 18.
Photographer: Francesca Volpi/BloombergThis article is for subscribers only.
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The European Commission unveiled an unprecedented stimulus plan to tackle the worst recession in living memory and underwrite struggling Italy’s membership of the 27-nation bloc.