That means reconstruction bonds. Or Eurobonds/Coronabonds light. Or Germany breaking a taboo and knuckling under to France to share debt with other EU countries, if you prefer.
It’s hard to keep up with them. Politicians just can’t burn money fast enough these days.
German Chancellor Angela Merkel broke with her country’s longstanding opposition to raising money together with other – often poorer – EU countries. But the proposal made with French President Emmanuel Macron is limited in scale and duration, which could help her sell it to skeptics back home.
It consists of 500 billion euros ($550 billion) in loans and grants to help countries through the recession, and is viewed by some as a step toward stronger EU ties as the 27-country union faces challenges not just from the virus crisis, but from populist forces in member countries Hungary and Poland who want to loosen the bloc’s ties.
Werteunion ruft zu Widerstand gegen Merkel auf.