EU Corona Package: The 540 billion is actually much less

It would have been a real disaster if the finance ministers had not agreed. All economists agree.

The EU Corona aid package is “okay, a first step. But it is not brave, ”said André Sapir, Financial expert of the Brussels think tank Bruegel, about the package, which is said to include up to 540 billion euros.

Should, because this is more of a fraudulent label: almost half of the amount, 240 billion euros, are aid loans from the Euro bailout (ESM). Each Euroland can call up two percent of its annual economic output for the follow-up costs of the health crisis.

–