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EU's New Fiscal Weapon Is Operational, It's a Lifeline for Italy


EU’s New Fiscal Weapon Is Operational, It’s a Lifeline for Italy
Feb 19 2021, 12:55 PM
February 18 2021, 9:30 AM
February 19 2021, 12:55 PM
(Bloomberg) European Union governments banking on hundreds of billions of euros in recovery funds to revive their economies can start putting forward their plans from Thursday when the bloc’s newest economic weapon becomes operational.
(Bloomberg) European Union governments banking on hundreds of billions of euros in recovery funds to revive their economies can start putting forward their plans from Thursday when the bloc’s newest economic weapon becomes operational.
The Recovery and Resilience Facility is designed to hand out 312.5 billion euros ($375 billion) of grants and 360 billion euros of low-interest loans over the next six years to help the EU’s 27 members recover from the Covid-19 pandemic and refit their economies for the challenges of what it sees as an increasingly hostile world ....

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Hit by pandemic, eurozone sees ghost of the debt crisis » Borneo Bulletin Online


January 20, 2021
BRUSSELS (AFP) – European governments fear the COVID-19 pandemic will punish the most fragile economies the hardest, widening gaps between European Union (EU) member states and reviving memories of the eurozone debt crisis.
Much has changed in the European economy since the crisis a decade ago, but recent data shows that the countries that suffered the most back then are still the most vulnerable today.
Eurozone finance ministers, meeting by videoconference, discussed their worries on Monday, with soaring public debt and stagnant wage growth topping their lists of concerns.
Greece, Spain and Italy all share towering debt levels but, to make matters worse, they are also service-based economies highly dependent on tourism that has ground to a halt because of the pandemic. ....

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