Apr.23 — The European Commission is floating a 2 trillion-euro ($2.2 trillion) plan for economic recovery as stringent lockdowns amid the coronavirus pandemic shuttered factories and halted travel, pitching the world’s largest trading bloc into the worst recession in living memory. The European Central Bank also took steps, saying it would accept some junk-rated debt as collateral for loans to banks. Andrew Sheets, chief cross-asset strategist at Morgan Stanley, comments on the moves on “Bloomberg Markets: European Open.”
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The European Union (EU) is a political and economic union of 27 member states that are located primarily in Europe. Its members have a combined area of 4,233,255.3 km² and an estimated total population of about 447 million.
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