EU leaders finally reach coronavirus recovery deal on fourth night of talks at marathon summit

European Union leaders have finally clinched an unprecedented €1.82 trillion (£1.64 trillion) budget and coronavirus recovery fund.

The leaders finalised the agreement in the early hours of Tuesday morning, finding unity after four days and nights of fighting and wrangling over money and power in one of their longest ever summits.

To confront the biggest recession in its history, officials said the EU had a consensus on a €750 billion (£677 billion) Covid-19 fund to be sent as loans and grants to the countries hit hardest by the virus.

That comes on top of the seven-year €1 trillion(£900 billion) EU budget.

French President Emmanuel Macron has called it “a historic day for Europe”.

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