EU Fiscal Capacity

The explosion of the Covid-19 pandemic in February 2020 led to a paradigm change in the European Union architecture of economic governance. To mitigate the pandemic''s damage, the EU established a Recovery Fund called ''Next Generation EU'' (NGEU). Funded though resources raised on the financial markets, this special budget is worth 750bn€ at 2018 prices, which corresponds to 806,9bn€ at current p...