The Next Generation EU package is too small (around 5% of EU GDP) and slow (peaking in 2023-2024) to be a proper cyclical stabilisation tool
Apolline Menut (AXA Investment) | The Next Generation EU package is a genuine step forward. Joint debt issuance, fiscal transfers and proposed joint tax revenues are politically meaningful. But the package is too small (around 5% of EU GDP) and slow (peaking in 2023-2024) to be a proper cyclicalstabilisation tool.