ZDEU - EU's massive stimulus package may be in trouble

Tensions over stimulus are not only playing out in the U.S. The EU's economic recovery package, which includes €750B in jointly-backed debt and a €1.07T common EU budget, is in trouble due to differences between member states over democratic standards."We observe with concern that the number of different blockades in the budget negotiations seems to be increasing rather than decreasing," said the spokesman of the German presidency of the EU. "A delay of the EU budget and the recovery fund is becoming increasingly likely."Germany, which holds the rotating presidency of the bloc, offered a proposal this week that would suspend payouts from the budget if a weighted majority of nations determined a rule-of-law breach, like not adhering to values like prosecuting high-level corruption.The draft was rejected by Hungary and Poland, with Polish Prime Minister Mateusz Morawiecki calling it "political blackmail," while a group of richer nations, including Finland and the

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EU's massive stimulus package may be in trouble