Politicians and investors cheered the historic agreement among European Union leaders to throw southern members a €750 billion ($862 billion) lifeline to offset economic damage from the coronavirus pandemic. For the first time, the EU will borrow hundreds of billions of euros on debt markets to hand governments grants with few strings attached. The funding, part of a €1.8 trillion spending package settled in Brussels early Tuesday, aims to let Italy, Spain and others resuscitate their economies without piling on unsustainably...

Source: Wall Street Journal July 21, 2020 16:51 UTC