On May 18, Angela Merkel and Emmanuel Macron presented a Franco-German proposal for the European Recovery Fund. The content of the initiative is disruptive and would represent, if it were adopted by the Union, a decisive step forward towards the construction of a common house. In this Policy Brief, Marcello Messori analyzes the strong news that this document brings with it, the pros and cons of this initiative, and the difficult path that it will face in order to be accepted by the EU.

The original version of this Policy Brief was published by the
LUISS School of European Political Economy.

The groundbreaking novelties of the Franco-German proposal and the misuse of the abacus

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