EU readies €800bn debt programme but safe asset status in doubt

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EU readies €800bn debt programme but safe asset status in doubt

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RW241F Brussels, Belgium. 4th March 2019. Chairman of the Presidency of Bosnia and Herzegovina, Milorad Dodik and Eu Commissioner Johannes Hahn speak during a press conference at the European Commission. Alexandros Michailidis/Alamy Live News | Alamy Stock Photo

The European Commission says it is ready to pull the trigger on Next Generation EU — an €800bn debt programme designed to finance the bloc’s economic recovery from the coronavirus pandemic. Political hurdles remain but from a funding perspective the EU is raring to go. However, market participants warn that even with its colossal funding need, it may not fulfil ambitions of becoming a true eurozone safe asset, writes Lewis McLellan.

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