At the EU special summit, which began on Friday, there was last night, a breakthrough. The heads of state and government of donor countries to be opened – after they had graced for days – eventually their wallets.
- Instead of the of Germany and France offered 500 billion euros will now be 390 billion euros, as gifts of Money made available. Especially in southern EU countries such as Italy, Spain and Portugal benefit.
- After all: Austria, Denmark, Sweden, the Netherlands and Finland had reduced her to insist on more austerity, the generosity. To blow up the package as a Whole, not one has dared. The Person
Gabor Steingart is one of the most famous journalists in the country. He is editor of the Newsletter “Steingarts Morning Briefing”. The eponymous Podcast is Germany’s leading Daily Podcast for politics and the economy. In the spring of 2020 Steingart moves in with his editorial on the editorial ship “Pioneer One”. Prior to founding Media Pioneer was Steingart Chairman of the Board of management of the Handelsblatt Media Group.
Be free Morning Briefing, you can find here: www.gaborsteingart.com
the EU’s financial package: The breakthrough came in a dirty back room deal
The breakthrough a dirty brought back room deal. Because the approval of the over-saving countries was too expensive:
- Austria now has until 2027 to a rebate of 565 million euros per year (instead of 137 million), Vienna must pay in seven years, approximately four billion less to Brussels than initially planned.
- the other critics of the Corona-Fund profit with large sums of money: the discount rate for The Netherlands is in the future 1.9 billion instead of the previous 1.6 billion Euro.
- Denmark is, according to the proposal of the President of the Council, a reduction of 322 million per year, Sweden 1,069 billion euros per year.
- Particularly critical of the plans are also because the EU wants to take for the Corona program, for the first time in a large Dimension joint debt. Prof. Hans-Werner Sinn warns: “If we are funding now is all about the state debt, which will be replaced at the end as in the last few years with freshly printed money, the risk is that history repeats itself and we get to the elimination of the now huge monetary overhang, similar to how after the First world war and the Spanish flu, a violent Inflation.” dpa
Everything on the EU summit, read the summit-breakthrough! Historic Corona-auxiliary package,
the voices of the prophets to penetrate to leading layers through.
the chief of The economy, Prof. Lars field, raise also a warning Finger: “The joint and several liability means a high fiscal risk for each individual member state. This cannot be allowed to happen.”
But the voices of the prophets not penetrate to the in Paris, Berlin and Brussels, leading layers so right. The debt-financed trillion-heavy programs for the combating of climate warming, Corona and poverty in the fashion of the season.
The type of the right politician is extinct some time ago already. The new: He missing, but he is not missing anymore. The French writer and film Director André Malraux has suspected it: “In politics it is sometimes, as in the grammar: An error that all the commit, is finally recognized as a rule.”
- read also: Live-Ticker for the pandemic
“The Commission must also play the’ bad COP ‘”
My colleague Stefan Lischka has spoken this morning with Guntram Wolff, the head of Brussels think tank Bruegel, the results of the EU-analyse summit.
In the Morning Briefing Podcast says Wolff: “These decisions imply a change in the nature of the European Union, and that’s why it took four days to get an agreement. This is something New. It is actually a true insurance mechanism. And in the case of an insurance company it is also so, if you are sick, you need not to pay your medical expenses, but only to continue their contributions.”
“There are mechanisms in place to stop bad used money and other payouts. I would like to see a hard implementation of the Commission. The Commission then has to play the bad COP. If it does not, the EU is losing credibility with the citizens.” “Self-blame”: German tourists expect debt with the ball on the man-hosts from FOCUS Online “Self”: German tourists expect the ball to man-of hosts from
