{"id":6493,"date":"2020-05-19T11:28:26","date_gmt":"2020-05-19T09:28:26","guid":{"rendered":"https:\/\/newforum.org\/deutsch-franzoesische-alternative-zu-euro-bonds\/"},"modified":"2022-01-25T12:20:54","modified_gmt":"2022-01-25T11:20:54","slug":"deutsch-franzoesische-alternative-zu-euro-bonds","status":"publish","type":"post","link":"https:\/\/newforum.org\/en\/deutsch-franzoesische-alternative-zu-euro-bonds\/","title":{"rendered":"German-French alternative to Euro-Bonds"},"content":{"rendered":"<p>[:de]Dass die EU am besten arbeitet, wenn Deutschland und Frankreich an einem Strang ziehen ist hinl\u00e4nglich bekannt. Mit dem neuen Vorschlag eines Recovery Funds in H\u00f6he von 500 Milliarden Euro geben Berlin und Paris ein positives Signal an die kriselnden EU-L\u00e4nder. Jetzt gilt es, die \u00fcbrigen EU 27-L\u00e4nder von dem Vorschlag zu \u00fcberzeugen. Am Dienstag werden bereits die Finanzminister der L\u00e4nder \u00fcber die Details des Vorschlags sprechen. Insbesondere bei der Niederlande, \u00d6sterreich und Schweden wird \u00dcberzeugungsarbeit zu leisten sein.<\/p>\n<p>Nichtsdestortrotz scheinen sich die Experten einig zu sein, dass dies ein gro\u00dfer Moment f\u00fcr die EU sein k\u00f6nnte.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Big day for \ud83c\uddea\ud83c\uddfa. Has Hamilton arrived in the form of the \ud83c\udde9\ud83c\uddea\ud83c\uddeb\ud83c\uddf7 proposal? We will follow up on Wednesday with a discussion of the financial future of Europe joint with <a href=\"https:\/\/twitter.com\/LauBooneEco?ref_src=twsrc%5Etfw\">@LauBooneEco<\/a> <a href=\"https:\/\/twitter.com\/gilliantett?ref_src=twsrc%5Etfw\">@gilliantett<\/a> and <a href=\"https:\/\/twitter.com\/adam_tooze?ref_src=twsrc%5Etfw\">@adam_tooze<\/a> <a href=\"https:\/\/t.co\/lLVv7UTFNd\">https:\/\/t.co\/lLVv7UTFNd<\/a><\/p>\n<p>\u2014 Moritz Schularick (@MSchularick) <a href=\"https:\/\/twitter.com\/MSchularick\/status\/1262412663256203267?ref_src=twsrc%5Etfw\">May 18, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\ud83c\udde9\ud83c\uddea\ud83c\uddeb\ud83c\uddf7 propose 500bn in EU budget spending, skewed towards the most affected, re-distributive (get according to need, pay according to GNI key), financed by what is effectively federal issuance integrated in MFF. That&#8217;s bigger than Karlsruhe. <a href=\"https:\/\/twitter.com\/hashtag\/HamiltonDream?src=hash&amp;ref_src=twsrc%5Etfw\">#HamiltonDream<\/a><a href=\"https:\/\/t.co\/5vU2qYXXog\">https:\/\/t.co\/5vU2qYXXog<\/a><\/p>\n<p>\u2014 Silvia Merler (@SMerler) <a href=\"https:\/\/twitter.com\/SMerler\/status\/1262420637311799296?ref_src=twsrc%5Etfw\">May 18, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Lucas Guttenberg (Jacques Delors Centre) ist begeistert von der simplen Ausgestaltung des Vorschlags, wirft aber die Frage auf, inwieweit man sicherstellen k\u00f6nne, dass die die Gelder an den richtigen Stellen ankommen.<\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-1993 lazyload\" data-src=\"https:\/\/newforum.org\/wp-content\/uploads\/2020\/05\/Lucas-Guttenberg.png\" alt=\"\" width=\"515\" height=\"331\" data-srcset=\"https:\/\/newforum.org\/wp-content\/uploads\/2020\/05\/Lucas-Guttenberg.png 986w, https:\/\/newforum.org\/wp-content\/uploads\/2020\/05\/Lucas-Guttenberg-300x193.png 300w, https:\/\/newforum.org\/wp-content\/uploads\/2020\/05\/Lucas-Guttenberg-768x493.png 768w\" data-sizes=\"(max-width: 515px) 100vw, 515px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 515px; --smush-placeholder-aspect-ratio: 515\/331;\" \/><\/p>\n<p>Die New York Times spricht derweil von einem &#8220;Gro\u00dfen Schritt&#8221; f\u00fcr den Europ\u00e4ischen Zusammenhalt und merkt positiv an, dass Merkel das Deutsche Tabu der gemeinsamen Europ\u00e4ischen Schulden breche und damit die deutsche \u00f6konomische Orthodoxie hinter sich lasse:<\/p>\n<p><a href=\"https:\/\/www.nytimes.com\/2020\/05\/18\/world\/europe\/coronavirus-european-union-fund.html?smid=tw-share\">New York Times: Merkel, Breaking German \u2018Taboo,\u2019 Backs Shared E.U. Debt to Tackle Virus<\/a><\/p>\n<p>Aber nicht alle teilen die Begeisterung f\u00fcr den Vorschlag. In einem neuen Twitter Beitrag relativiert Sony Kapoor die historische Gr\u00f6\u00dfenordnung des deutsch-franz\u00f6sischen Vorschlag eines Wiederaufbaufonds.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Coming late to the story but I can\u2019t be the ONLY one thinking the \u201cHamiltonian\u201d \u201cGame-Changing\u201d [insert your superlative here] Franco-German <a href=\"https:\/\/twitter.com\/hashtag\/RecoveryFund?src=hash&amp;ref_src=twsrc%5Etfw\">#RecoveryFund<\/a> proposal is in fact neither \u201ca Hamilton moment\u201d nor Game-Changing nor, in fact, even adequate &#8230; \u201cMuch Ado About Not Much\u201d<\/p>\n<p>\u2014 Sony Kapoor (@SonyKapoor) <a href=\"https:\/\/twitter.com\/SonyKapoor\/status\/1263048812597305344?ref_src=twsrc%5Etfw\">May 20, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h4 style=\"text-align: center;\">***<\/h4>\n<p>Hier finde Sie die Pressemitteilung zum gemeinsamem Vorschlag der Bundesregierung und eine erste Einordnung der Financial Times:<\/p>\n<p><a href=\"https:\/\/www.bundesregierung.de\/resource\/blob\/973812\/1753772\/414a4b5a1ca91d4f7146eeb2b39ee72b\/2020-05-18-deutsch-franzoesischer-erklaerung-eng-data.pdf?download=1\">Pressemitteilung der deutschen Bundesregierung<\/a><\/p>\n<p><a href=\"https:\/\/www.ft.com\/content\/c23ebc5e-cbf3-4ad8-85aa-032b574d0562\">Financial Times: <span class=\"article-classifier__gap\">Germany and France unite in call for \u20ac500bn Europe recovery fund<\/span><\/a>[:en]It is well known that the EU works best when Germany and France pull together. With the new proposal for a 500 billion euro recovery fund, Berlin and Paris are sending a positive signal to the EU countries in crisis. Now it&#8217;s time to convince the other EU 27 countries of the proposal. On Tuesday the finance ministers of the countries will already discuss the details of the proposal. Especially the Netherlands, Austria and Sweden will have to be convinced.<\/p>\n<p>Nevertheless, the experts seem to agree that this could be a crucial moment for the EU.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Big day for \ud83c\uddea\ud83c\uddfa. Has Hamilton arrived in the form of the \ud83c\udde9\ud83c\uddea\ud83c\uddeb\ud83c\uddf7 proposal? We will follow up on Wednesday with a discussion of the financial future of Europe joint with <a href=\"https:\/\/twitter.com\/LauBooneEco?ref_src=twsrc%5Etfw\">@LauBooneEco<\/a> <a href=\"https:\/\/twitter.com\/gilliantett?ref_src=twsrc%5Etfw\">@gilliantett<\/a> and <a href=\"https:\/\/twitter.com\/adam_tooze?ref_src=twsrc%5Etfw\">@adam_tooze<\/a> <a href=\"https:\/\/t.co\/lLVv7UTFNd\">https:\/\/t.co\/lLVv7UTFNd<\/a><\/p>\n<p>\u2014 Moritz Schularick (@MSchularick) <a href=\"https:\/\/twitter.com\/MSchularick\/status\/1262412663256203267?ref_src=twsrc%5Etfw\">May 18, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\ud83c\udde9\ud83c\uddea\ud83c\uddeb\ud83c\uddf7 propose 500bn in EU budget spending, skewed towards the most affected, re-distributive (get according to need, pay according to GNI key), financed by what is effectively federal issuance integrated in MFF. That&#8217;s bigger than Karlsruhe. <a href=\"https:\/\/twitter.com\/hashtag\/HamiltonDream?src=hash&amp;ref_src=twsrc%5Etfw\">#HamiltonDream<\/a><a href=\"https:\/\/t.co\/5vU2qYXXog\">https:\/\/t.co\/5vU2qYXXog<\/a><\/p>\n<p>\u2014 Silvia Merler (@SMerler) <a href=\"https:\/\/twitter.com\/SMerler\/status\/1262420637311799296?ref_src=twsrc%5Etfw\">May 18, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Lucas Guttenberg (Jacques Delors Centre) is enthusiastic about the simplicity of the proposal, but wonders to what extent it is possible to ensure that the money gets to the right places.<\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-1993 lazyload\" data-src=\"https:\/\/newforum.org\/wp-content\/uploads\/2020\/05\/Lucas-Guttenberg.png\" alt=\"\" width=\"515\" height=\"331\" data-srcset=\"https:\/\/newforum.org\/wp-content\/uploads\/2020\/05\/Lucas-Guttenberg.png 986w, https:\/\/newforum.org\/wp-content\/uploads\/2020\/05\/Lucas-Guttenberg-300x193.png 300w, https:\/\/newforum.org\/wp-content\/uploads\/2020\/05\/Lucas-Guttenberg-768x493.png 768w\" data-sizes=\"(max-width: 515px) 100vw, 515px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 515px; --smush-placeholder-aspect-ratio: 515\/331;\" \/><\/p>\n<p>The New York Times meanwhile speaks of a &#8220;Major Step&#8221; for European cohesion and notes positively that Merkel breaks the German taboo of common European debts and thus leaves German economic orthodoxy behind:<\/p>\n<p><a href=\"https:\/\/www.nytimes.com\/2020\/05\/18\/world\/europe\/coronavirus-european-union-fund.html?smid=tw-share\">New York Times: Merkel, Breaking German \u2018Taboo,\u2019 Backs Shared E.U. Debt to Tackle Virus<\/a><\/p>\n<p>But not everybody is as enthusiatic about the new proposal. IIn a recent twitter thread Sony Kapoor relativizes the historical magnitude of the proposal.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Coming late to the story but I can\u2019t be the ONLY one thinking the \u201cHamiltonian\u201d \u201cGame-Changing\u201d [insert your superlative here] Franco-German <a href=\"https:\/\/twitter.com\/hashtag\/RecoveryFund?src=hash&amp;ref_src=twsrc%5Etfw\">#RecoveryFund<\/a> proposal is in fact neither \u201ca Hamilton moment\u201d nor Game-Changing nor, in fact, even adequate &#8230; \u201cMuch Ado About Not Much\u201d<\/p>\n<p>\u2014 Sony Kapoor (@SonyKapoor) <a href=\"https:\/\/twitter.com\/SonyKapoor\/status\/1263048812597305344?ref_src=twsrc%5Etfw\">May 20, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h4 style=\"text-align: center;\">***<\/h4>\n<p>Hier finde Sie die Pressemitteilung zum gemeinsamem Vorschlag der Bundesregierung und eine erste Einordnung der Financial Times:<\/p>\n<p><a href=\"https:\/\/www.bundesregierung.de\/resource\/blob\/973812\/1753772\/414a4b5a1ca91d4f7146eeb2b39ee72b\/2020-05-18-deutsch-franzoesischer-erklaerung-eng-data.pdf?download=1\">Press release of the German Government<\/a><\/p>\n<p><a href=\"https:\/\/www.ft.com\/content\/c23ebc5e-cbf3-4ad8-85aa-032b574d0562\">Financial Times: <span class=\"article-classifier__gap\">Germany and France unite in call for \u20ac500bn Europe recovery fund<\/span><\/a>[:]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[:de]Dass die EU am besten arbeitet, wenn Deutschland und Frankreich an einem Strang ziehen ist hinl\u00e4nglich bekannt. Mit dem neuen Vorschlag eines Recovery Funds in H\u00f6he von 500 Milliarden Euro geben Berlin und Paris ein positives Signal an die kriselnden EU-L\u00e4nder. Jetzt gilt es, die \u00fcbrigen EU 27-L\u00e4nder von dem Vorschlag zu \u00fcberzeugen. Am Dienstag [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[48],"class_list":["post-6493","post","type-post","status-publish","format-standard","hentry","category-europe"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>German-French alternative to Euro-Bonds - Forum for a New Economy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newforum.org\/en\/deutsch-franzoesische-alternative-zu-euro-bonds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"German-French alternative to Euro-Bonds - Forum for a New Economy\" \/>\n<meta property=\"og:description\" content=\"[:de]Dass die EU am besten arbeitet, wenn Deutschland und Frankreich an einem Strang ziehen ist hinl\u00e4nglich bekannt. 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Mit dem neuen Vorschlag eines Recovery Funds in H\u00f6he von 500 Milliarden Euro geben Berlin und Paris ein positives Signal an die kriselnden EU-L\u00e4nder. Jetzt gilt es, die \u00fcbrigen EU 27-L\u00e4nder von dem Vorschlag zu \u00fcberzeugen. Am Dienstag [&hellip;]","og_url":"https:\/\/newforum.org\/en\/deutsch-franzoesische-alternative-zu-euro-bonds\/","og_site_name":"Forum for a New Economy","article_published_time":"2020-05-19T09:28:26+00:00","article_modified_time":"2022-01-25T11:20:54+00:00","og_image":[{"url":"https:\/\/newforum.org\/wp-content\/uploads\/2020\/05\/Lucas-Guttenberg.png","type":"","width":"","height":""}],"author":"s.hennen","twitter_card":"summary_large_image","twitter_creator":"@forumneweconomy","twitter_site":"@forumneweconomy","twitter_misc":{"Written by":"s.hennen","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/newforum.org\/en\/deutsch-franzoesische-alternative-zu-euro-bonds\/#article","isPartOf":{"@id":"https:\/\/newforum.org\/en\/deutsch-franzoesische-alternative-zu-euro-bonds\/"},"author":{"name":"s.hennen","@id":"https:\/\/newforum.org\/en\/#\/schema\/person\/55aca96d615979e46100e4e073bbc0be"},"headline":"German-French alternative to Euro-Bonds","datePublished":"2020-05-19T09:28:26+00:00","dateModified":"2022-01-25T11:20:54+00:00","mainEntityOfPage":{"@id":"https:\/\/newforum.org\/en\/deutsch-franzoesische-alternative-zu-euro-bonds\/"},"wordCount":763,"publisher":{"@id":"https:\/\/newforum.org\/en\/#organization"},"image":{"@id":"https:\/\/newforum.org\/en\/deutsch-franzoesische-alternative-zu-euro-bonds\/#primaryimage"},"thumbnailUrl":"https:\/\/newforum.org\/wp-content\/uploads\/2020\/05\/Lucas-Guttenberg.png","articleSection":["Europe"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/newforum.org\/en\/deutsch-franzoesische-alternative-zu-euro-bonds\/","url":"https:\/\/newforum.org\/en\/deutsch-franzoesische-alternative-zu-euro-bonds\/","name":"German-French alternative to Euro-Bonds - 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