Europe’s historic day, almost

Amidst great fanfare it was announced on Tuesday morning that a deal had been struck to salvage the European Union, after 90 hours of fraught negotiations. It was not stated thus, but that is what the agreement amounts to. The European Council President Charles Michel tweeted at the conclusion of the deal, “We did it! We have reached a deal on the recovery package and the European budget for 2021 – 2027. This is a strong deal. And most importantly, the right deal for Europe right now.” Maybe so, but the bill has to pass the EU Parliament, and there will be checks that the money will be well-spent. The UK is not included in the package, since it decided to leave the EU. Will it ultimately be enough to save the EU, is it another version of the Greek bailout, or is it just a temporary band-aid? Continue reading “Europe’s historic day, almost”