European Union leaders agreed on Thursday to build a trillion euro emergency fund to help recover from the coronavirus pandemic, avoiding another all-night bust-up but leaving divisive details until the summer.

With the EU’s Brussels headquarters under lockdown – along with most of Europe – the 27 leaders held a four-hour video conference to consider proposals, rallying around a bigger common budget for 2021-27 with a recovery program.

Source: EU lays out trillion euro escape route from coronavirus pandemic – Reuters