Other aspects of the proposal have been changed as well, including contingencies on disbursement of funds to states with failed economic reforms and rule of law issues, argued for by France and Germany. Both Poland and Hungary, who have a history of questionable legal rulings, refused to accept these terms leading to a softening of the contingencies in the final proposal.
As a result of the pandemic, the EU has experienced an economic downturn not seen since the Great Depression. According to the European commission, the EU’s economy is expected to shrink by 8.3% in 2020, which is markedly worse than the original 7.4% prediction offered only two months ago. It remains to be seen whether the economic stimulus plan will act as an effective bulwark against the pandemic.
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