EU pledges €200 billion to spur growth

The European Commission unveiled a stimulus package worth the equivalent of 1.5% of European Union (EU) GDP on Wednesday in a bid to shore up economic activity.

The majority of the €200 billion ($257 billion) injection - €170 billion - will come from national governments, with the remaining €30 billion coming from EU coffers.

"Exceptional times call for exceptional measures. The jobs and well-being of our citizens are at stake. Europe needs to extend to the real economy its unprecedented coor