European leaders will start debating a crisis-recovery fund that will likely total half a trillion euros today, as borrowing costs rise for Italy and Spain due to fears that Germany and the bloc’s other wealthy countries will not sufficiently help harder-hit states manage an expected surge in debt levels.

Significant differences remain over the timing, size, funding and focus of money needed to lift Europe from the economic crisis brought on by responses to the coronavirus pandemic. Officials said that today’s talks will only begin discussions that could drag on for months.