Opinion | Europe Takes the Debt Plunge

On Tuesday European Union leaders agreed to a recovery plan funded by the bloc’s first major issuance of common debt, and some are calling it a historic moment for the Continent’s political and fiscal integration. This is a significant development, but don’t hold your breath for a United States of Europe.

The EU announced €1.8 trillion in spending to address the pandemic-induced economic contraction, with more than €1 trillion going to the bloc’s seven-year budget. The European Commission also will borrow on capital markets…

Subscribe to Newsedgepoint Google News

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *