The European Commission could find it difficult to transfer the first tranche of the recovery funds to all member states according to its calendar, as most plans are expected to be approved at the same time and there will be limited capacity to borrow from the markets.
Last July, the EU’s € 800 billion recovery fund was greeted as a historic deal. But its slow implementation, doubts about its size, problems with its ratification in some member states, especially Germany and Poland, and difficulties in drawing up national recovery plans have tarnished the instrument.
In every step of the way, Europeans are finding new obstacles for its quick implementation, as it could happen only after the fund is ready to make the first transfers.
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