The European Union’s top economy official says that the recovery measures the EU and its 27 member states have in the works to emerge from the pandemic total around $5.85 trillionBRUSSELS -- The European Union's top economy official said Monday that the recovery measures the EU and its 27 member states have in the works to emerge from the pandemic total around $5.85 trillion. During his first 100 days in office, Biden has secured passage of a sweeping $1.9 trillion pandemic package to bring relief to 330 million Americans. And so we have to consider both member states and the EU level,” bringing the total to $4.8 trillion. EU Vice President Valdis Dombrovskis said that if requests from member states proceeded as planned, the first disbursements to the member states on prefinancing could already be made in July. The EU has a strict set of benchmarks that member states must reach if the money is to be paid out.

Source: ABC News May 10, 2021 14:37 UTC