The European Commission has unveiled a plan to help European countries manage the Great Depression-scale shock from COVID-19. Building on a recent Franco-German proposal, the commission is calling for a €750 billion ($1.2 trillion) recovery fund (€500 billion of which would be distributed as grants, and €250 billion as loans).
Angela Merkel and a beamed-in French President Emmanuel Macron announce the plan for a recovery fund. Getty
Loading...
Project Syndicate
Nouriel Roubini is Professor Emeritus of Economics at New York University’s Stern School of Business and Chief Economist at Atlas Capital Team.
Brunello Rosa is CEO and head of research at Rosa & Roubini Associates and visiting professor at Bocconi University.
