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The EU’s €500 Billion COVID Stimulus: France & Germany’s Plan to Save the EU – TLDR News
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Germany and France, as the two biggest contributors to the EU, have come together to develop a plan to keep the Union’s economy alive during (and after) COVID. In this video, we discuss the plans to spend €500 billion Euros on this project, and whether other countries, including the so-called ‘Frugal Four’ will approve such massive spending.
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1 – https://www.imf.org/en/Publications/WEO/Issues/2020/04/14/weo-april-2020
2 – https://www.bundeskanzlerin.de/bkin-en/news/dt-franz-initiative-1753890
3 – https://www.france24.com/en/20200518-live-macron-and-merkel-present-joint-covid-19-recovery-plan-for-eu
4 – https://www.politico.eu/article/france-germany-propose-e500b-eu-recovery-fund/
5 – https://uk.reuters.com/article/uk-france-germany/france-germany-propose-500-billion-euro-eu-recovery-fund-idUKKBN22U27C
6 – https://www.bundeskanzlerin.de/resource/blob/656734/1753772/414a4b5a1ca91d4f7146eeb2b39ee72b/2020-05-18-deutsch-franzoesischer-erklaerung-eng-data.pdf
7 – https://www.ft.com/content/c23ebc5e-cbf3-4ad8-85aa-032b574d0562
8 – https://www.ft.com/content/22f0ab8b-0884-4fb0-a5be-d99193d236bf
9 – https://www.bundeskanzlerin.de/resource/blob/656734/1753772/414a4b5a1ca91d4f7146eeb2b39ee72b/2020-05-18-deutsch-franzoesischer-erklaerung-eng-data.pdf
10 – https://www.bbc.co.uk/news/world-europe-52712370
11 – https://blogs.imf.org/2018/02/21/the-euro-area-needs-a-fiscal-union/
12 – https://www.politico.eu/article/berlin-buckles-on-bonds-in-e500b-franco-german-recovery-plan/
13 – https://www.statista.com/chart/18794/net-contributors-to-eu-budget/
14 – https://ec.europa.eu/budget/graphs/revenue_expediture.html
15 – https://twitter.com/GiuseppeConteIT/status/1262442258248404997
16 – https://twitter.com/sanchezcastejon/status/1262450177878691840
17 – https://www.ft.com/content/22f0ab8b-0884-4fb0-a5be-d99193d236bf
18 – https://twitter.com/sebastiankurz/status/1262432177213575168
19,21,22,23 – https://www.politico.eu/article/frugal-four-propose-loans-for-loans-approach-to-coronavirus-recovery-fund/
20 – https://g8fip1kplyr33r3krz5b97d1-wpengine.netdna-ssl.com/wp-content/uploads/2020/05/Frugal-Four-Non-Paper.pdf
24 – https://www.ft.com/content/add218ac-f63d-4b65-af5c-3c4e9033e015
25 – https://www.politico.eu/article/berlin-buckles-on-bonds-in-e500b-franco-german-recovery-plan/
26 – https://www.politico.eu/article/mario-centeno-franco-german-plan-a-big-step-towards-fiscal-union/
source
@ryanmandal
February 28, 2024 at 9:25 pm
In 0:54 , you said that America had a 3 Trillion dollar stimulus package but in the video it shows 3 Billion, please fix this.
@Akillesursinne
February 28, 2024 at 9:25 pm
As a swede, fuck the EU. 150 Billion SEK we are to pay so people can have their god damn siesta! Generations in debt and we didn't even get a say in it. Fucking federalistic anti-democratic bastards. Why isn't the EU just a god damn trade/peace union. Fucking hell.
@Twiggy163
February 28, 2024 at 9:25 pm
Ofcourse Spain and Italy would be in favour. They're receiving money to lower or no interrest than they'd get on their own,while the 'frugal four' are going to pay for them again .
@dutchdykefinger
February 28, 2024 at 9:25 pm
what do i think?
i think guy verhofstadt is a creepy dude that needs a mushtache drawn on him as he demands more power, just to make a point lol
@theamici
February 28, 2024 at 9:25 pm
Loans just create unstable financial futures. Grants are necessary to ensure stable growth. We don't need yet another Greek crisis, the first one was enough painful and -exhausting.
@urazoe8240
February 28, 2024 at 9:25 pm
had hitler known it would be this easy to create a dependency of europe on the german state, he would surly forgone war. germany is once again trying to rule europe
@robertschofield1560
February 28, 2024 at 9:25 pm
This package lumps 4 1/2 thousand euro dept on every man woman and child
In Ireland
This cannot be allowed to happen
Without giving those people a say in the matter
Not politicians
But the people
Who’s children and grandchildren will
HAVE
To repay the loans of today’s people
This also goes for all other POTEU (prisoners of the EU)
Every single one of the 450 million of them will be laden with debt which cannot be paid back
And
What happens if their is another catastrophe?
When there is no more money on the money tree?
@economicpaper3025
February 28, 2024 at 9:25 pm
Hey everyone, pay attention"We know which recession phase to expect now"…"We know it not"; Do expectations about economic crises aptly anticipate consequences? You can see https://rdcu.be/b5NNQ .
@truthseeker8894
February 28, 2024 at 9:25 pm
What a sick pro EU channel this is. Can't believe people are watching and believing these tyrannical ideas. Bye!
@rw2993
February 28, 2024 at 9:25 pm
EU Fiscal Union – yes. It would lock Scotland out of the EU.
@Poitiers732AD
February 28, 2024 at 9:25 pm
It is embarrassing to see the countries in southern Europe asking for funding. Will they ever survive without money from northern Europe?
@Poitiers732AD
February 28, 2024 at 9:25 pm
It's time for Swexit.
@stephaniejelkejansen2319
February 28, 2024 at 9:25 pm
To call the Nederland one of the frugal four, is for good reason, we have had cuts in all sectors of the economy, plus the dutch pension age is 67+ and the rest from age 60, 62 etc. hence our reluctance with the gift story, loans is another issue , even then I won't see these repaid in my lifetime ,!
@knudplesner
February 28, 2024 at 9:25 pm
UK, Ireland, EFTA (NB8 (Nordic Council, Baltic Assembly)) and Benelux.
—- All of these will get out of the EU if the EU will incur joint debt. They will form their own northern community but retain a customs community and product standard with the EU.
@knudplesner
February 28, 2024 at 9:25 pm
The four northern countries should not give gifts to the three southern countries (Greece, Italy and Spain), a loan may come up. Some of the 4 are not even in the euro. If Germany and France want a stronger EU, they must do so with a Europe of two speeds. If the EU wants to raise a large joint loan to restore the EU after the COVID crisis, they can do so without the 4 northern countries. If the EU wants to abolish the sovereignty of individual countries, the EU will be divided into two. Those who will leave the EU but will stay in the customs zone are:
UK, Ireland, EFTA (NB8 (Nordic Counsil, Baltic Aasembly)) and Benelux
@peterstauber7401
February 28, 2024 at 9:25 pm
We need a compromise between the frugal four and the two heavy weights and one solution isn't the perfect solution, we need more shorter term solutions, that get revised ever so often on an individual countries basis, based on that European countries economic evolution. And those individual European countries over future prosperous economic growth, shall be a net contributor to the European union.
@evajust1139
February 28, 2024 at 9:25 pm
JUST AN EXCUSE FOR GETTING MONEY IN THE EU BOX. NOW UK IS OUT, SO WHAT WILL ANGELA MERKEL AND HER ASSISTENT URSULA VON DER LEYEN'S ONLY IDEA.
——- MY IDEA TO THE CONTRIES WHO ARE EU MEMBERS, MAKE SURE THAT YOUR N—- National only, to vote for eu — OUT OR STAY —–
@jdtsb8856
February 28, 2024 at 9:25 pm
So basically, still no financial aid from EU for its members.
@janjoschafinger5749
February 28, 2024 at 9:25 pm
The best way for Europe to move forward has long been a gradual evolution in the direction of a European Federation -a single, federal polity learning to view itself as a nation, a more democratic, more equal counterproposal to the USA.
This crisis and what comes after will make or break the Union. Returning to "nation-first" politics and repeating the mistakes of 2008 will empoverish the continent and destroy any legitimacy Europe has saved through that crisis.
Standing together we will come out stronger, and solidarity will pay off even in monetary terms, eventually.
@konraddapper7764
February 28, 2024 at 9:25 pm
In my opinion, a European grand system has to be accompanied by unified tax code, a unified retirement system, a unified welfare system, and unified armed forces. Because else no nation is incentivized to be fiscally responsible.
But reforms of that magnitude cannot and should not be rushed. This means for the time being a loans based recovery fund is the only viable option.
@yummyfuzz1
February 28, 2024 at 9:25 pm
What a load of tripe. The vast majority of this money will be going to buffer large corporations. The EU is creating a slush fund that has to be backed up by member states who will have to pay. It is creating a backdoor fiscal Union, no accountability. Not only the Chinese taking advantage of this pandemic.
@SB-wv8yr
February 28, 2024 at 9:25 pm
Africa plans to save Europe tanks to 🇫🇷
@filipddd5538
February 28, 2024 at 9:25 pm
and it will ruin my generation, wich will pay whole life for reckless money treatment of Italy, Greece- they've had problems before, i think Europe has to end cuz Germany doesn't handle this situation well, it's not about solidarity now, it has something to do with my generation living well, and i think, we will leave well, if we just get the fuck outta Europe.
#CZexit
@kurtproton3726
February 28, 2024 at 9:25 pm
Ughhh? Can they throw out a few more 'woke" comments. Another person without a calculator….it's over 5m Euros per Covid death !?!?!?! That makes sense? Think that money will be as well spent as the last ton of taxpayer cash that was wasted on the Euro project which is why nearly all the EU countries are bust after 40 years of the EU….please stop being "nice" and think.
@karenedonald
February 28, 2024 at 9:25 pm
Starts at 2.35
@tomtoms862
February 28, 2024 at 9:25 pm
Too late far too little and they are running out of money print more that’s their answer no more treasure Island
@alessandroolivieri7
February 28, 2024 at 9:25 pm
That's basically Eurobond rebranded, for good peace of anti-EU and anti-SouthernEU country people/politicians.
France and Germany lead the way with Spain and Italy, at it always was, who don't like it could go out of it like the UK, imho.
Anyway it is silly to me that Germany wouldn't agree to favorable loans and 'money transfer' (as you say in the video), but then they are perfectly fine for +15 years of giving out unconditionally money to eastern European countries that also consistently shifted away from democracy.
@andreaspetrou9296
February 28, 2024 at 9:25 pm
Cloud cuckoo-land….It's a FAUX "rescue" grant! EU doesn't grant anything, there is a plan for repayment….make no mistake…. member states will be colonised through deep austerity and generational debt…. just they way they like it.
@maddwarf7976
February 28, 2024 at 9:25 pm
I think there is a lot wrong in this video. There will be conditions for the payouts in terms of for what it could be used. And there is no general responsibility for the dept, each country has to pay its part itself.
I would still not vote for the plan of france and my homecountry.