A very quick post to update you on the latest news of the "Reouven Fund" or "Next generation Fund", what should, starting from an uncertain date of 2021, bring wealth and well-being to all Europeans, especially Italians. Every day a novelty, a surprise, an evolution, more or less positive, which makes it clear how much uncertainty in reality surrounds these funds on which Conte wants to ensure its existence and the recovery of Italy.
Let's see those of the past few days:
- they are no longer 750 billion, but 500, so said the German finance minister Scholz. Given that he is the only serious sponsor, with power, of the measure, it is very likely that this figure is the most realistic one. In the end, 250 billion will be non-refundable, but to be spread over seven years. "Gualtieri opposes", but, after having stepped on the feet, he will make a reason for it;
- Denmark seems to have convinced itself that, perhaps, if we want to save the European construct, it is better to be able to help the countries affected by COVID. Its leader has therefore softened his position and the austere countries go from 5 to 4 and a half;
- however Hungary protested because the instrument seems "Targeted" to help the countries of Southern Europe, "Forgetting" others from the east including Hungary, which is not even in the Euro. However, this also opens the way to strong pressure from the "Visegrad Group" to have a larger share of this money. The blanket is getting shorter.
So in the end the "Recovery fund", if it will be, when it will be, will not be what they tell you on TV: they promised you a shower of banknotes, you will have a fall of coins. The same that many will launch at the passage of ministers …
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/recovery-fund-ogni-giorno-una-novita-solo-500-miliardi-danimara-forse-si-ungheria-forse-no/ on Thu, 11 Jun 2020 08:00:00 +0000.