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Extraordinary times call for extraordinary EU measures

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21.07.2020

Talks at the marathon EU summit were arduous. In the end though, they resulted in a credible agreement. And that's what matters. In fact, the budget negotiations were lightening fast compared to other attempts to reach a compromise within the EU. There were only three months between the presentation of the draft recovery plan and Tuesday morning's resolution.

The term should not be used lightly but this deal really is historic. For the first time ever, the EU is taking on joint debt to soften the economic blow on member states. Just months ago, mutual funds and a debt union were unthinkable. Now, they are feasible. Germany's about-face from the frugal camp to........

© Deutsche Welle


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