The revised proposal for the Multiannual Financial Framework (MFF) for 2021-2027, which the European Commission presented on Wednesday 27 May (see EUROPE B12493A1), provides for an additional 750 billion euros firepower for the EU budget.
This sum corresponds to the level of the PEPP operation for the massive repurchase of public securities that the ECB initiated to counter the crisis caused by the Covid-19 pandemic, placing the EU’s budgetary response for economic recovery on a par with...