The explosion of the Covid-19 pandemic in February 2020 led to a paradigm change in the European Union architecture of economic governance. To mitigate the pandemic's damage, the EU established a Recovery Fund called 'Next Generation EU' (NGEU). Funded though resources raised on the financial markets, this special budget is worth 750bn at 2018 prices, which corresponds to 806,9bn at current prices. Disbursed to member states in the form of both loans...
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