The stimulus package that the Union is negotiating is the last chance. It relates as much to the reinsurance of the economy, faced with a fall of around 10% of GDP in 2020, as to the survival of the integration of the continent. The sustainability of the euro is threatened by the divergence between countries of the North and the South. The rule of European law is challenged by the decision of the Constitutional Court of Karlsruhe of 5 May 2020 which questions the primacy of Community law over national rights. Finally, the west and east of the continent are torn apart around the conflict between liberal and illiberal democracy.
The Union has certainly reacted to the economic shock more quickly and effectively than during the crash of 2008. But the shock wave of bankruptcies and unemployment remains before us, in particular with the release of the short-time working scheme which provides the remuneration of 34 million employees in Germany, France, Italy and Spain. And the fatal gear of depression can only be stopped
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