The European Union's $826 billion stimulus plan to battle the coronavirus is 'too small and too late,' analysts say

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• The European Union on Wednesday proposed a 750 billion euro recovery package as the economic bloc attempts to crawl out of its worst economic crisis in decades.
• Representing a major step towards a revival of the 27-member union, the EU fund is expected to be financed through borrowing, by issuing long-term government bonds in global financial markets.
• While analysts at Bank of America believe the EU fund is a decent starting point to negotiations, they say it is "too small and too late" for urgent economic needs.
• Goldman Sachs analysts praised the plan as more "ambitious" than the Franco-German proposal valued at €500 billion.
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The European Union this week proposed a recovery package valued at €750 billion (about $826 billion), to revive the 27-member bloc from the devastation of the coronavirus pandemic. 

The official process for negotiations will kick off with informal discussions between the European governments, followed by the first formal discussion in the Eurogroup on June 11. 

See the rest of the story at Business Insider

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See Also:

• Fed Chair Jerome Powell says the coronavirus recession has been a 'great increaser of income inequality' — with low-paid workers and women bearing the brunt of the fallout
• The Trump administration won't release an official economic projection for the first time in decades as the US grapples with a historic downturn
• Unemployment will be higher in the US than in other advanced economies through 2021, Goldman says

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