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Europe’s Capitals Mull Recovery Loans With Eye on Soaring Debt
As the European Union seeks to disburse funds from its 750 billion-euro ($888 billion) recovery program as soon as next year, some of the countries hardest hit by the pandemic are struggling to work out how to best keep their finances in check once they take on billions of euros of new loans. Spain, Greece and Portugal plan to focus on the grant portion first, which doesn’t need to be paid back, while they work out how to access the 360 billion euros of loans the EU will make available to member states as part of its stimulus package. Italy has indicated that it will request the full 128 billion euros of loans that ... (full story)