Tuesday October 20, 2020

We need to reform EU’s fiscal and monetary policies

Trying to neatly separate these into different European and national competences is a complete fudge and doesn’t reflect reality

31st May, 2020
The policy narrative is clearly designed to encourage mass public investment as a fiscal stimulus in the most-affected regions of Europe

The European Commission has announced a bold plan to allow the EU to issue €750 billion in common bonds for common spending. This funding will be added to the EU’s seven-year budget, raising its budgetary firepower to almost €1.8 trillion. The debt will be repaid over 30 years, with new EU-wide taxes proposed to cover the cost of servicing the interest repayments. The proposal would have been unthinkable six months ago.

Cleverly, the new...

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