This past week, the European Commission unveiled a plan to help European countries manage the Great Depression-scale shock from Covid-19.
Building on a recent Franco-German proposal, the Commission is calling for a €750 billion recovery fund – €500 billion of which would be distributed as grants, and €250 billion as loans.
The money issued through this so-called “Next Generation EU” plan will flow through European Union programs, in order to achieve the Commission’s goals, including...
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