, Columnist
Macron and Merkel Deliver an $859 Billion Breakthrough
The EU’s $859 billion Covid-19 recovery fund is historic, even if it falls short of “Hamiltonian.”
Bonded.
Photographer: JOHN THYS/AFPThis article is for subscribers only.
After days of bad-tempered talks, the European Union’s 27 members have agreed a 750 billion-euro ($859 billion) Covid-19 recovery fund that looks like a historic step toward more joint stimulus across the bloc — even if it’s not yet a “Hamilton moment.”
While the unusually united Franco-German duo of Emmanuel Macron and Angela Merkel couldn’t avoid watering down their original proposal, the deal is still worth cheering.