EU proposes 750 billion-euro coronavirus recovery fund

The EU gravy train just keeps on at full speed!

This €750B recovery blueprint proposal, a mirad of debt mutualisation, dressed up as part of a €1.85 trillion fund targeted/leveraged from the long-term EU budget for 2021-2027.

The main beneficiaries, ironically, France, Germany, Italy, Spain, Greece, the countries/states that brutally, in many ways understandably, locking down the pandemic, whilst also locking down or a more appropriate term shutting down their economies.      

The consequences are a debt union.

Without any fundamental reform or restructure programme/policy addressing the existing risks that drive monetary/fiscal imbalances underlining a crisis inherent in the blocks monetary union/Euro/single currency.  

Italy, France, Spain, Greece need to exit the Euro. Possibly essential for the European Union to survive.