this week by leaders at one of the longest EU summits only tells half a story. As important is that the commission for the first time will be allowed, temporarily, to borrow in the markets to fund EU expenditure. At €750bn, over three years from 2021, thefund is a bazooka, not a peashooter. Bonds will be issued, with the tab settled by 2058. It’s not all good news. The promises that handouts would not be going to countries which undermine the rule of law ring hollow.”.
This completely ignores that the ECB is already buying massive amounts of European debt. Already at €1.4T and climbing. Sure, it’s not a perfect plan, but the arguments used in this editorial or not exactly true.
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