Tuesday June 2, 2020

EU hasn’t learned lessons of last economic crisis

European solidarity only works if those nations worst hit by pandemic get help from countries able to share burden

12th April, 2020
Momentum has gathered in recent weeks behind the idea of coronabonds, or eurobonds, to spread the cost of reflating the battered European economy among all its members

The €500 billion rescue package for the European economy unveiled last week does little more than paper over the cracks of what has been an unedifying few weeks in how to limit the economic fallout of the Covid-19 pandemic.

As much as European governments insist the figure – consisting of funds from the European Stability Mechanism, European Investment Bank loans and other pledges –are welcome, it hardly goes to the heart of the row that...

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