Coronavirus Recovery Plan: Test of Cohesion in the EU?

The coronavirus pandemic is leaving deep marks on the economy and society. In view of the economic recession, the EU has launched the largest aid program in its history. The NextGenerationEU package – a EUR 750 billion fund – aims to cushion the economic impact of the coronavirus crisis and support economic recovery. The initiative includes grants and credit facilities for member states financed by EU bonds. Can the program stabilize the economies of EU countries and strengthen social cohesion within the EU? Or does it undermine the financial discipline of EU countries and create the conditions for a transfer union? What opportunities and risks for Europe’s future lie in the Recovery Plan for Europe?