The economic impact of the deal agreed in the European Council should not be underestimated: the European Union launching bonds to the tune of €750bn is no less than historic. We needed to make common cause against the economic fallout from Covid-19, and we have.
It is the politics behind it I'm worried about: the national logic has been pushed through both in revenues and disbursement, which could open the door to years of acrimonious discussions on the costs and benefits of the Europe...
Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? LoginGuy Verhofstadt is a Belgian MEP, former leader of the ALDE group and was prime minister of Belgium from 1999 to 2008.
Guy Verhofstadt is a Belgian MEP, former leader of the ALDE group and was prime minister of Belgium from 1999 to 2008.