Italy and Spain will be the main beneficiaries from a 750 billion-euro ($826 billion), jointly financed fiscal stimulus package debated among European Union governments, according to estimates by the bloc’s executive seen by Bloomberg.
The European Commission’s so-called Next Generation EU plan is subject to approval by all 27 governments and the European Parliament. Negotiations on the package could take months and result in significant amendments. While the EU’s executive arm hasn’t officially published a proposed allocation of the funds, Bloomberg has seen an internal memo with those estimates based on the latest available economic data.
