After several weeks of tug-of-war, a precarious agreement was reached on aid to EU member countries that need extra financing to deal with the economic crisis triggered by the coronavirus epidemic. The states will get up to 540,000 million euros, but under what conditions? What does this have to do with the Marshall Plan for Europe that Pedro Sánchez demands? Is this viable?

The IMF declared at the beginning of April that we have entered into “the worst economic downturn since the Great Depression”. Yesterday, their perspective was confirmed when figures released for the US showed a rate of 4.8 percent decline. Today, the figures are out showing a 3.8 percent contraction in one quarter in the Eurozone. The disastrous handling of the coronavirus pandemic sharpened an economic crisis that was already in the making.