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How Macron rallied Merkel to the idea of ​​European financial solidarity

2020-05-19T19:05:10.750Z


DECRYPTION - The judgment of the Karlsruhe Constitutional Court highlighted the limits of the ECB's monetary policy.


"Kolossal". In the mouth of Angela Merkel, the adjective can qualify as much the scale of the joint initiative with Emmanuel Macron in favor of a recovery fund in the face of the Covid crisis, as her own personal revolution. 500 billion euros is certainly far from the 1000 to 1500 billion hoped for by Paris, but it is already more than the American Marshall plan of the post-war period. Above all, by accepting shared debt and allocating resources according to everyone's needs, the Chancellor shatters taboos anchored in the German conception of Europe.

Read also: Franco-German plan: a new instrument, "details" to be settled

A 180-degree turn, which makes some teeth cringe across the Rhine, likely to mark a new stage in European construction. The "coronabonds" (corona bonds) called for by the Italian Prime Minister Giuseppe Conte are buried, here they are about to resuscitate, Canada Dry version.

It doesn't matter if you have a departure disagreement with Germany, it doesn't matter if you do on arrival

The Élysée

At the end of March, during an extraordinary video conference summit of European leaders, Angela

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Source: lefigaro

All news articles on 2020-05-19

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