Comment: Why the EU’s recovery gamble must succeed
Should Europe’s ambitious plan fail to deliver on its goals, it could lead to a double-dip recession and play into the hands of populists
To help their pandemic-hit economies recover, European Union leaders agreed in July to borrow €750 billion to finance €390 billion in grants and €360 billion in loans to the bloc’s member states. The programme, called Next Generation EU, was rightly hailed as a major breakthrough: never before had the EU borrowed to finance expenditures, let alone transfers to member states.
Yet the programme and its Recovery and Resilience Facility, which will disburse most of the ...
