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Tag Archives: NGEU

The nonsense of Next Generation EU net balance calculations

Estimates of payments countries will receive from the Next Generation EU instrument can be made with some degree of precision. But estimating countries' repayments up to 2058 is extremely difficult. By: Zsolt Darvas Date: January 27, 2021 Topic: European Macroeconomics & Governance The estimation of payments from the European Union’s COVID-19 economic recovery fund, Next Generation EU (NGEU), to each EU country in 2021-2026 involves uncertainties, yet the overall magnitudes...

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Thinking big: debt management considerations for the EU’s pandemic borrowing plan

If not handled correctly, the European Union’s transition to take on a new role as an issuer of public debt risks crowding out existing markets. Managing that transition correctly is almost as big a challenge as spending the money itself. By: Rebecca Christie Date: December 9, 2020 Topic: European Macroeconomics & Governance The COVID-19 crisis is set to propel the European Union for many years to come into a role its members had not anticipated: significant issuer of public...

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Next Generation EU payments across countries and years

How much cake does everyone actually get and at what speed? This blogpost estimates the yearly Next Generation EU (NGEU) payments to each EU country at current prices in euros and as a share of GNI. By: Zsolt Darvas Date: November 12, 2020 Topic: European Macroeconomics & Governance The Special European Council of July 2020 defined the total amount of Next Generation EU (NGEU) commitments at 2018 prices. Existing estimates, including my earlier ones, allocated these 2018 price...

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Will European Union countries be able to absorb and spend well the bloc’s recovery funding?

To help finance the post-coronavirus recovery, the European Union is raising large amounts to pass on to its members. But absorption of EU funds is typically slow and some countries might struggle to spend what they can get, even if they will have broad freedom to design spending programmes. The focus should be on worthwhile spending, not just on absorbing EU funds. By: Zsolt Darvas Date: September 24, 2020 Topic: European Macroeconomics & Governance The European Union’s...

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