63. European solidarity
The
EU has announced a 750 billion (American) euro recovery fund. It will be used
by countries as they need it, will be deployed to fund strategically important
sectors and, unlike recovery cash in the aftermath of the last financial
crisis, will be repaid from EU funds. This sets up the scene for poorer
countries to benefit the most and for richer countries to pay most of the bill.
The EU has, finally, after over 20 years in the wilderness, remembered that
solidarity is one of the values at the heart of its project. It’s only one
policy, one announcement, but it has the potential to be a paradigm change, to
build a more equal, faster growing and more competitive Europe. I’m both
relieved and heartened that, when we expect to be let down by our politicians,
the leaders of the European economic powers and the top European bureaucrats
have answered the call of history and stood up, refusing to withdraw from the fight
against exacerbated, selfish nationalism. The EU has a chance. We all do
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