A stronger European Union

The European Recovery Fund, proposed by the President of the European Commission, was favourably received in the various capitals of the Member States. The Italians and the Spaniards were happy, on one side, and the Scandinavians as well, notwithstanding earlier positions regarding the need for conditionalities.

It is, in fact, a balanced plan, which reserves a good part of the resources for grant-type financing. And it adds an incredible amount of money to other resources already announced, either by the Commission or by the European Central Bank. Ursula von der Leyen demonstrated opportunity and vision. Her standing as head of the Commission comes out strengthened. Of course, behind all this, we can guess there is the support of Angela Merkel and Wolfgang Schäuble, who is now President of the German Federal Parliament and who continues to have a lot of power, on the domestic scene of his country. In the end, these things happen if the Germans are on board. They do not express it too loudly, but their voice is the determinant one in matters of common economic policies, agriculture excepted.