CORONAVIRUS/ The Recovery Fund is a historic initiative
The Recovery Fund is a historic initiative, explains Carlo Altomonte, professor of European economic policy. "For the first time, in fact, the European budget is being used in a countercyclical way, i.e. with a procedure that creates European public demand at federal level for an immediate contingency and not for structural expenditure". The key point of what for Altomonte "is truly a real Eurobond, is that it is a mutualised instrument, i.e. not everyone will be rewarded for what they put on the plate". There will be countries, "like Italy and Spain", that will receive more, others, "like Germany", that will receive less.