Solidarity will be strengthened. Countries will find new ways to co-operate. And Brussels will support the economy, making sure the strong support the weak. European Commission president Ursula von der Leyen is set to unveil the EU’s response to the coronavirus crisis, promising a ‘new Marshall Plan’ to prevent the continent plunging into deep recession.
It is a nice idea. The financial help offered by Harry Truman’s secretary of state George C. Marshall to rebuild Europe after World War II is rightly credited with salvaging its shattered economy and laying the foundations for half-a-century of peace and prosperity. The trouble is, the reality is nothing close to the rhetoric. What is an offer from the EU is a fraction of that made available by the United States seventy years ago. In truth, it is its failure to act that will be remembered, not its willingness to do so.
The Marshall Plan was a package of financial assistance offered across Europe in 1948.
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