(MENAFN- Kuwait News Agency (KUNA)) BERLIN, July 21 (KUNA) -- President of the European Central Bank (ECB) Christine Lagarde on Tuesday welcomed the agreement of 27-member European Union (EU) Leaders on the "recovery fund" to overcome impact of coronavirus pandemic.
A statement issued by the bank from its headquarters in Frankfurt, Lagarde said that the agreement shows the extent of Europe's ability to take united positions during crisis and assume responsibilities towards European citizens.
She thanked EU leaders for showing unity, saying that with this decision Europe will be able to face the consequences of the emerging crisis of Coronavirus, it added.
President of the European Council, Charles Michel, announced early morning in a press conference that Leaders of 27-member European Union have reached agreement on a 750 billion-euro (USD 857 billion) recovery fund to overcome impact of coronavirus virus, and a 1.074 trillion euro (USD 1.22 trillion) long-term 2020-27 budget. (end)
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