EU recovery fund set to ease ECB’s burden
Common debt issuance likely to significantly reduce fragmentation risks, taming sovereign bond spreads, say analysts
The recovery fund agreed by European Union leaders in the early hours of this morning (July 21) is set to reduce the burden on the European Central Bank in tackling eurozone fragmentation risks, say analysts.
Following almost four days of marathon negotiations, the EU’s 27 heads of government agreed on a €750 billion ($860 billion) recovery fund to help member states finance the recovery from the Covid-19 crisis. Crucially, for the first time, the fund entails the European Commission raising
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