Dear colleagues, members, partners and friends,

The proposed EU response to Corona marks a major moment in EU history. Of course, nothing is carved in stone yet, but to see how much things have evolved in the past few weeks can be called historic.

First, on May 18^th, Merkel and Macron surged ahead with a 500 billion proposal, already considered as opening an impressive new chapter of the EU, and then, just nine days later, the serve of the EU Commission.

We have welcomed these new approaches as visionary, innovative, and far-sighted,  as strong and determined signals of solidarity – between those who have and those who do not, between the strong and the vulnerable.

Because to allow the EU (via the European Commission) to take loans (backed by joint guarantees of the Member States) by emitting own (EU) state bonds, to pass them on mostly as grants (not loans!) to the Member States, and to pay these loans back via new own resources would be a first in EU history.

Accordingly, Commission President Ursula von der Leyen called it “Europe´s moment” and European Parliament President David-Maria Sassoli “Europe´s D-Day “. It is indeed a strong, very strong message – both from the European institutions and most Member States. (And let´s face it: probably largely due to a shift of mind and dogma in Germany.)

Read the full article here.