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What Did the EU's €800 Billion of Covid Borrowing Accomplish?
Original: What Did the EU’s €800 Billion of Covid Borrowing Accomplish?
The European Union borrowed roughly €800 billion through its joint Covid recovery fund, the largest common debt issuance in its history. Attention is turning to what the money actually delivered, from national recovery plans and investment projects to questions about delays, absorption problems and whether the programme leaves a lasting legacy. The debate matters as the EU weighs further joint borrowing and the future of its fiscal capacity.
Why now: Debate over the legacy and effectiveness of the EU's joint pandemic debt is resurfacing as policymakers discuss future common borrowing.
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Evidence
- What Did the EU’s €800 Billion of Covid Borrowing Accomplish? · Bloomberg.com
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