EU's Covid recovery fund was "absolutely a success," says European Court of Auditors' Pierre Moscovici
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Pierre Moscovici, the French member of the European Court of Auditors, assesses the EU's Recovery and Resilience Facility as a success. The fund, part of the €750 billion Next Generation EU borrowing programme agreed during the pandemic, has disbursed €450 billion in grants and loans to member states since 2021 and is now entering its final phase. Moscovici notes the plan achieved jointly issued Eurobonds, an idea long blocked by political divisions among member states and the EU Commission.
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