There is not much of a market just now for optimism about our
economic, social, political or environmental future. In the wake of the
Covid-19 pandemic, we face the worst economic crash in more than 100
years and potential climate-change disaster. But the outcome of the
marathon Brussels summit heralds a strikingly encouraging new direction for the European Union.
The significance of the five-day European Council is not simply the sheer size of the €1.2 trillion stimulus to be given the EU economy but the unprecedented scale of the collective borrowing the union will undertake on world financial markets, to finance that recovery strategy. Of the €750 billion to be invested in post-pandemic economic recovery, an unprecedented €390 billion will be in grants, not repayable loans.
Read more at:
An economic, as well as a monetary, union? – John Palmer
The significance of the five-day European Council is not simply the sheer size of the €1.2 trillion stimulus to be given the EU economy but the unprecedented scale of the collective borrowing the union will undertake on world financial markets, to finance that recovery strategy. Of the €750 billion to be invested in post-pandemic economic recovery, an unprecedented €390 billion will be in grants, not repayable loans.
Read more at:
An economic, as well as a monetary, union? – John Palmer
