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Europe’s latest step toward fiscal integration

The elusive goal of establishing collective European responsibility for funding the battle against the COVID-19 pandemic got a big boost this week with an...

In a joint announcement on May 18, the two leaders stole the limelight from the European Commission, declaring their agreement on a far-reaching proposal for the…

  • Jacob Funk Kirkegaard
  • PIIE

It was another step in the “Hamiltonian moment” in Europe of “joint struggles addressed with joint expenditure” in the face of dire necessity.[1]

The plan calls for jointly funded debt to support the European pandemic recovery under the EU Treaty’s Article 122, covering “a…

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