The Covid-19 pandemic has brought back borders as different countries put their own interests first.
EU leaders agree that a much bigger bail out is required. How this is structured is dividing Europe and opening old wounds.
In an interview with Italy’s Corriere della Sera paper, European Stability Mechanism Managing Director Klaus Regling said the easiest way to organise such funds would be via the European Commission and the EU budget.
The devil is in the details, but EU leaders this week will wrangle a deal which might be a starter’s pistol for Brussels to fall on its sword.
European governments are scrambling to put together hundreds of billions of euros to save lives, companies, and families from going bankrupt as countries hit hardest by the virus are also those that can least afford the costs, like Italy and Spain.
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