The EU Should Issue Perpetual Bonds
The disruption in the European Union caused by the COVID-19 pandemic should be temporary, but only if EU leaders take the extraordinary measures needed to avoid long-term damage. Fortunately, there is an easy, fast and low-cost way to finance the proposed €1 trillion European Recovery Fund.
NEW YORK – European Commission President Ursula von der Leyen has announced that Europe will need about €1 trillion ($1.1 trillion) to fight the COVID-19 pandemic. This money could be used to establish a European Recovery Fund. But where will the money come from?