Big test now for the EU: preserving market confidence that it's got this and something will get through. The balance of grants vs loans matters less than showing that there's money available that can get where it needs to go.
#EUbudget #recoveryfund #covid19 #EURecoveryPlan
#EUbudget #recoveryfund #covid19 #EURecoveryPlan
My colleague @gregclaeys makes a great point that these are workable numbers, not magic leverage best-case scenarios. The EU has too often fallen back on spreadsheet magic while limiting the actual money.
#EUbudget #recoveryfund #covid19 #EURecoveryPlan
#EUbudget #recoveryfund #covid19 #EURecoveryPlan
National politicians could do a lot for constituents by emphasizing the benefits of moving quickly vs waiting for disaster to entrench itself. If, on the other hand, EU debate devolves into debt point scoring, things may get ugly. #EUbudget #recoveryfund #covid19 #EURecoveryPlan
Financial markets would love to give the EU money to fix the economy. Regardless of how you parse the payback, joint borrowing allows for very, very favorable borrowing terms. Challenge will be convincing taxpayers to let it happen #EUbudget #recoveryfund #covid19 #EURecoveryPlan
