What is in the €750bn EU coronavirus rescue package – and why is it such a big deal?

There’s much excitement among financial commentators about the new package proposed by the European Commission. But what exactly is in it? And what does it imply for the future of the EU? Ben Chu explains

Ursula von der Leyen: ‘We either all go it alone ... or we walk that road together, take that leap forward’ (Reuters)

The European Commission this week proposed a €750bn (£675bn) fiscal support package for the economics of the European Union which have been ravaged by coronavirus lockdowns.

Financial markets rose in response, signalling that investors think the move is economically significant.