Economics
Spain and Italy Are Big Beneficiaries of EU Recovery Deal
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The European Council clinched an historic deal last week on a 750 billion-euro ($879 billion) fund aimed at rescuing the European Union’s hardest-hit economies. The amount in grants was cut, although Spain and Italy should remain the key beneficiaries among major euro-area countries. The exact distribution of funds will evolve, and might still be the subject of arduous negotiations between EU leaders.