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Going through the multi-annual financial framework (the regular EU budget) that is to be expanded for the reconstruction fund, there would be no pooled liability unlike with corona bonds. Each country would only be liable for their share of the EU budget / contribution. That's the difference that opened the door. For months of intense EU haggling. Total volume? Grants or loans? Oversight? Size of the regular structural funds for the Eastern Europeans vs their democracy problems? It's the summer of love.

Schengen is toast!
by epochepoque on Wed May 20th, 2020 at 10:52:12 AM EST

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