Here is what’s ahead for the proposed €500bn Recovery Fund (a rocky road)

Germany and France have put their hands up in agreement to the support the €500bn Recovery Fund

The path ahead for getting approval is a rocky one though:
  • will require unanimous support of the rest of the 27 EU members
If it gets that far:
  • funds would be raised by the European Commission
  • they’d borrow on capital markets
  • then disburse the funds to nations as needed (provided as grants, not loans)
Giving the cash away, net lending it, is a sticking point, so far, for Austria, the Netherlands, Denmark, Sweden (and perhaps others).
Nevertheless, the support from the big two was enough to help risk along on Monday: