by Mike ‘Mish’ Shedlock
The EU agreed to a package deal to handle the coronavirus outbreak. No one knows how it works.
Round of Applause
Please consider Congratulations, It’s a Fudge.
EU finance ministers gave themselves a round of applause as they wrapped up talks on Thursday night with agreement on a package of measures worth half a trillion euros to cushion the blow of the coronavirus pandemic.
French Finance Minister Bruno Le Maire said that after 16 hours of “brutal” inconclusive negotiations earlier in the week, the ministers realised they were “standing at the edge of the abyss and what is at stake is quite simply the construction of Europe”.