‘Largest Political Shift On The Continent In 30 Years’: €750 Billion EU Rescue Fund, Joint Debt To Become Reality

‘Largest Political Shift On The Continent In 30 Years’: €750 Billion EU Rescue Fund, Joint Debt To Become Reality

If markets participants needed another reason to be optimistic about the prospects for a recovery, they got it on Wednesday as details emerged around the recovery fund initially floated by Angela Merkel and Emmanuel Macron early last week. The total for the fiscal package is €750 billion (the same size as the initial envelope for the ECB's pandemic purchase program, incidentally). €500 billion will be in grants, and €250 billion in loans. It's notable (to say the least) that the grants p
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