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Smoke and Mirrors of EU Budget Math May Not Cut It After Virus

  • EU draft sees private investment drawn in by limited funds
  • Auditors questioned the EU’s claims about the Juncker Plan
Updated on

When the European Union presents its plan to rebuild its economy after the coronavirus, it’s likely to include three kinds of funding: taxpayers’ money, borrowed money and theoretical money.

Officials in Brussels have a tendency to pad out their flashy headline figures with the theoretical stuff. But investors trying to gauge the strength of the policy response would be advised to peer a little closer.