Quote in Wall Street Journal on EU's Covid-19 Recovery Fund

I was quoted on the paradigm shift in EU’s Covid-19 rescue package compared to the EU's policy approach after the 2008 financial crisis in a December 6 Wall Street Journal article by Paul Hannon entitled, “Europe Seeks to Boost Pandemic-Damaged Economy by Spending.”

The rescue deal allows for transfers within the bloc to the regions most badly hit by the pandemic and most in need of funds - very similar to what happens in the United States on a routine basis. There has also been a change in monetary policy, allowing for easier borrowing by states in need of fiscal stimulus.