“Who wants to fund €500 billion?” is the European game of the week. EU leaders will meet via conference call on Thursday to bicker over the creation of a “recovery fund” to help their economies grow back into shape after the shock of the coronavirus outbreak. Governments have finally agreed on the principle of such a fund. They may even be in broad agreement about how to spend the money. The problems begin when they start talking about where the money should come from. France, supported by Italy, Spain and others, is pushing forward the proposal of a fund that would borrow on the markets the equivalent of 3% to 4% of ... (full story)