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Q&A: Brussels 'thinks big' - now it must get the backing of each state over grants and loans

John Downing



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European Central Bank president Christine Lagarde has said the threatened recession will be twice as bad as what followed the 2008 banking and economic collapse. Photo: DANIEL ROLAND/AFP via Getty Images

European Central Bank president Christine Lagarde has said the threatened recession will be twice as bad as what followed the 2008 banking and economic collapse. Photo: DANIEL ROLAND/AFP via Getty Images

AFP via Getty Images

European Central Bank president Christine Lagarde has said the threatened recession will be twice as bad as what followed the 2008 banking and economic collapse. Photo: DANIEL ROLAND/AFP via Getty Images

Is this EU coronavirus recovery plan big stuff?

Yes. In fact it is huge - and it has to be. The virus has killed 173,000 people across the 27 EU member states. It has put the economy of 440 million people into the deep freeze and left citizens facing the biggest recession in the EU's 63-year existence.

European Central Bank president Christine Lagarde has said the threatened recession will be twice as bad as what followed the 2008 banking and economic collapse.