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A protester demonstrates against the EU stimulus package in Warsaw, Poland on May 23. Photo: Omar Marques/Anadolu Agency via Getty Images

The European Union is considering an $826 billion coronavirus rescue package to fund recovery efforts in response to the bloc's coronavirus-fueled economic strain, European Commission President Ursula von der Leyen said Wednesday.

Why it matters: The historic fund would bring the EU closer to fiscal union via a shared budget, the New York Times reports — however, all countries have to agree to the fund for it to be implemented.

  • The Netherlands, Austria, Sweden and Denmark are seen as potential vetoes for the vote, as they reject taking on debt from other countries, the BBC reports.

The big picture: Germany, one of the strongest nations in the EU, has broken with tradition in support of collective European debt in the face of the coronavirus pandemic — which could bode well for the package, per the Times.

Go deeper: EU advises member states on which tourists to admit as borders reopen

Go deeper

Updated Oct 7, 2020 - Health

World coronavirus updates

Expand chart
Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

New Zealand now has active no coronavirus cases in the community after the final six people linked to the Auckland cluster recovered, the country's Health Ministry confirmed in an email Wednesday.

The big picture: The country's second outbreak won't officially be declared closed until there have been "no new cases for two incubation periods," the ministry said. Auckland will join the rest of NZ in enjoying no domestic restrictions from late Wednesday, Prime Minister Jacinda Ardern said, declaring that NZ had "beat the virus again."

Erica Pandey, author of @Work
Sep 4, 2020 - Economy & Business

Hotel crisis hits new milestone

Illustration: Sarah Grillo/Axios

Labor Day weekend traffic might be a touch lighter this year, with hotel bookings down 65% compared to last year.

Why it matters: America's hotels are on life support as the coronavirus pandemic drags on, with hundreds of billions of dollars in revenue and some 2 million jobs at stake.

Sep 4, 2020 - Health

"Mask up": Governors urge caution ahead of Labor Day weekend

Beach-goers in San Clemente, California on Sept. 2 ahead of Labor Day weekend. Photo: Allen J. Schaben/Los Angeles Times via Getty Images

Democratic and Republican governors on Friday urged residents to adhere to basic coronavirus mitigation strategies, like washing hands and wearing a mask, during the Labor Day weekend.

Why it matters: 18 states saw rising coronavirus caseloads over the last week, including seven where daily infections were up by more than 50%, per a weekly Axios tracker.