EU shamed as economic recovery package offered not up to the job – Look at Biden

EU economy recovery package 'not up to the job' says expert

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Brussels eurocrats have been shamed over the European Union economic stimulus plan with a leading European political analyst dismissing the 250 billion plan as not enough to pull the bloc out of a deep Covid recession. Professor Grant Amyot has pointed to the trillion-dollar package pulled together for the US economy by President Joe Biden as a vision more on the scale of what Europe recures.

Professor Amyot told “It’s very large this package you know 750 billion euros.

However, he continues: “It’s still not quite up the job I don’t think.

“Of really pulling Europe out of the post-pandemic recession.

“After all Joe Biden has passed a 1.9 trillion dollar package in the US.”

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He added: “So that is a lot more of a country for a country with fewer inhabitants.

“So while it will do a lot it won’t do enough.

“The EU is often judged on its results, you know are we in good times or not.

“If the recovery package fails to bring back the good times over the long term people will remain discontented with the EU”

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The analyst also warned that the realpolitik surrounding the triggering of covid funds could in themselves could spell further problems for the bloc.

Cashing in the EU support funding could see leading eurosceptic figures such as Matteo Salvini in Italy square up against Brussels if they feel resources are not being spread fairly.

Professor Amyot told “There could also be battles over the conditions attached because Italy’s plan for spending has to be approved by the Commission.

“If the Commission objects to some of Italy’s plans of course Salvini will explode.”

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In the event the EU mechanism failed to secure a quick economic recovery, Professor  Amyot told “The end result will be people will not feel they are better off.

“They’ll feel they have suffered especially if the US economy for example comes roaring back.

“Or the British economy which at least on the health front is doing the right things to move toward recovery.

“Then people will begin to be discontent.”

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