United States of Europe? EU recovery plan pools borrowing

Will July 21, 2020 go down in history as Europe’s Hamilton moment with the EU pooling debt among member states? The agreement gives Brussels the never-before-seen power to borrow hundreds of billions of euros on world markets and distribute it to member states. François Picard’s panel argues over the significance of the moment and the compromises made during four days of marathon negotiations: is the final amount the right amount? What about the watering down of strings attached to going green and the rule of law?

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