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Once nicknamed the 'European bazooka', the €672.5bn coronavirus Recovery and Resilience Facility became a powerful sign that solidarity is back at the heart of Europe (Photo: Pictures of Money)

Covid-19 recovery: How to miss the target even with a bazooka

With the Covid-19 pandemic crisis, Europe needed the biggest ever-financial solidarity in Europe.

Once nicknamed the "European bazooka", the €672.5bn of the Recovery and Resilience Facility became a powerful sign that solidarity is back at the heart of Europe.

This money is to help people and enterprises affected by the crisis, to make our Union stronger and more resilient, to reform, to stay competitive, to become more modern, digital, and greener.

It gives the member st...

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The views expressed in this opinion piece are the author’s, not those of EUobserver

Author Bio

José Manuel Fernandes is a Portuguese MEP and European People's Party budgets committee coordinator, and rapporteur for the InvestEU programme.

Once nicknamed the 'European bazooka', the €672.5bn coronavirus Recovery and Resilience Facility became a powerful sign that solidarity is back at the heart of Europe (Photo: Pictures of Money)

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Author Bio

José Manuel Fernandes is a Portuguese MEP and European People's Party budgets committee coordinator, and rapporteur for the InvestEU programme.

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