Southern Europe is suffering from an over-indebtedness crisis

Ursula von der Leyen and Mario Draghi

President of the European Union Commission and Italian Prime Minister: Mario Draghi is a beacon of hope for reforms.


(Photo: dpa)

Brussels, Dusseldorf Everything goes according to plan, who would have thought that a few weeks ago? When the Federal Constitutional Court suspended the German ERF ratification law, Europe caught its breath. But after nearly a month of uncertainty, judges in Karlsruhe rejected the urgent application against the law.

Other European Union countries have now also established the legal basis for the Reconstruction Fund. The last time was Poland, where President Andrzej Duda signed a law on Monday. The largest fiscal policy experiment could begin since the founding of the European Union.

Immediately after fighting the crisis, Europe now wants to define its future growth path. The Reconstruction Fund, launched by the Brussels Doctors as “the next generation of the European Union”, aims to give Europe a new dynamic and the continent to become greener and digital.

The European Union Commission will start borrowing jointly this month. The first funds are expected to flow to member states as early as July.

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