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Germany and France, as the two biggest contributors to the EU, have come together to develop a plan to keep the Union's economy alive during (and after) COVID. In this video, we discuss the plans to spend €500 billion Euros on this project, and whether other countries, including the so-called 'Frugal Four' will approve such massive spending.


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1 - https://www.imf.org/en/Publications/WEO/Issues/2020/04/14/weo-april-2020
2 - https://www.bundeskanzlerin.de/bkin-en/news/dt-franz-initiative-1753890
3 - https://www.france24.com/en/20200518-live-macron-and-merkel-present-joint-covid-19-recovery-plan-for-eu
4 - https://www.politico.eu/article/france-germany-propose-e500b-eu-recovery-fund/
5 - https://uk.reuters.com/article/uk-france-germany/france-germany-propose-500-billion-euro-eu-recovery-fund-idUKKBN22U27C
6 - https://www.bundeskanzlerin.de/resource/blob/656734/1753772/414a4b5a1ca91d4f7146eeb2b39ee72b/2020-05-18-deutsch-franzoesischer-erklaerung-eng-data.pdf
7 - https://www.ft.com/content/c23ebc5e-cbf3-4ad8-85aa-032b574d0562
8 - https://www.ft.com/content/22f0ab8b-0884-4fb0-a5be-d99193d236bf
9 - https://www.bundeskanzlerin.de/resource/blob/656734/1753772/414a4b5a1ca91d4f7146eeb2b39ee72b/2020-05-18-deutsch-franzoesischer-erklaerung-eng-data.pdf
10 - https://www.bbc.co.uk/news/world-europe-52712370
11 - https://blogs.imf.org/2018/02/21/the-euro-area-needs-a-fiscal-union/
12 - https://www.politico.eu/article/berlin-buckles-on-bonds-in-e500b-franco-german-recovery-plan/
13 - https://www.statista.com/chart/18794/net-contributors-to-eu-budget/
14 - https://ec.europa.eu/budget/graphs/revenue_expediture.html
15 - https://twitter.com/GiuseppeConteIT/status/1262442258248404997
16 - https://twitter.com/sanchezcastejon/status/1262450177878691840
17 - https://www.ft.com/content/22f0ab8b-0884-4fb0-a5be-d99193d236bf
18 - https://twitter.com/sebastiankurz/status/1262432177213575168
19,21,22,23 - https://www.politico.eu/article/frugal-four-propose-loans-for-loans-approach-to-coronavirus-recovery-fund/
20 - https://g8fip1kplyr33r3krz5b97d1-wpengine.netdna-ssl.com/wp-content/uploads/2020/05/Frugal-Four-Non-Paper.pdf
24 - https://www.ft.com/content/add218ac-f63d-4b65-af5c-3c4e9033e015
25 - https://www.politico.eu/article/berlin-buckles-on-bonds-in-e500b-franco-german-recovery-plan/
26 - https://www.politico.eu/article/mario-centeno-franco-german-plan-a-big-step-towards-fiscal-union/