'Devil is in the details' of any EU Covid recovery fund: PIIE

Jacob Kirkegaard of the Peterson Institute for International Economics discusses the European Central Bank's decision to leave rates and stimulus measures unchanged. He says the ECB has been largely successful in restoring liquidity and it is now appropriate for them to "wait and see" what fiscal measures Brussels will take. He expects a €750 billion recovery fund to be passed this weekend, but warns that for this to be effective the funds must be channeled to poorer countries in the south.
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Fri, Jul 17 20202:06 AM EDT