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Managing the Recovery Fund – Francesco Oddone and Francesco Saraceno – Il Sole 24 Ore

The Recovery Fund, as has been repeated over and over again, is an opportunity and a risk for the revival of growth in Europe. It is an opportunity because many countries have been knocked out by two devastating crises in a span of ten years. It is a risk because European integration would definitively be undermined if a reckless use of resources gave reason to those who oppose this (albeit temporary and limited) project of mutualizing economic policies. Beyond the possible unreliable interpretations of the guidelines published by the European Commission, using the Fund for indiscriminate subsidies and tax cuts would therefore have enormous economic and political costs.

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