Covid recovery fund

The next stage of the EU’s coronavirus meltdown

Debts would be shared. The strong would offer a helping hand to the weak. Money would be raised at incredibly cheap rates to help countries recover from the impact of Covid-19, while at the same time building back a greener, tech-based economy. Last summer, as the epidemic engulfed the continent, the European Union took a massive step forwards towards a fiscal union, launching the ‘Coronavirus Recovery and Resilience Facility’ with £600 billion of common debt. The more swivel-eyed europhiles hailed it as a ‘Hamilton Moment’, a reference to the first Treasury Secretary of the United States who bound that fledging union together through the bond market. It would be a