The corona pandemic is more or less in the past, the days of lockdowns, curfews and restrictions on the unvaccinated seem long ago and from another world. The jubilation over the €750 billion reconstruction fund, which is intended to boost growth after the Covid crisis, has given way to the sobering reality: there are dubious examples in Italy and Spain, for example.
There was much applause at the presentation of the fund: part of the aid goes as a donation, another part as a loan. Under pressure from Austria, Sweden, Denmark, Finland and the Netherlands, the share of loans turned out to be larger than originally planned by the European Commission. Loans amounting to 360 billion euros are being provided that must be repaid in 2058. EUR 390 billion are subsidies that the Member States do not have to repay. The aid is linked to reforms and strict guidelines. Meanwhile, the emergency fund has turned out to be a non-starter in many places.
Source: Krone
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