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

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Updated Sep 28, 2020 - Health

World coronavirus updates

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

India became on Monday the second country after the U.S. to surpass 6 million cases.

By the numbers: Globally, nearly 997,800 people have died from COVID-19 and over 33 million have tested positive, Johns Hopkins data shows.

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.