Brussels eurocrats have been shamed over the European Union economic stimulus plan with a leading European political analyst dismissing the €250 billion plan as not enough to pull the bloc out of a deep Covid recession. Professor Grant Amyot has pointed to the trillion-dollar package pulled together for the US economy by President Joe Biden as a vision more on the scale of what Europe recures.
Professor Amyot told Express.co.uk: “It’s very large this package you know 750 billion euros.
However, he continues: “It’s still not quite up the job I don’t think.
“Of really pulling Europe out of the post-pandemic recession.
“After all Joe Biden has passed a 1.9 trillion dollar package in the US.”
He added: “So that is a lot more of a country for a country with fewer inhabitants.
“So while it will do a lot it won’t do enough.
“The EU is often judged on its results, you know are we in good times or not.
“If the recovery package fails to bring back the good times over the long term people will remain discontented with the EU”
In the event the EU mechanism failed to secure a quick economic recovery, Professor Amyot told Express.co.uk: “The end result will be people will not feel they are better off.
“They’ll feel they have suffered especially if the US economy for example comes roaring back.
“Or the British economy which at least on the health front is doing the right things to move toward recovery.
“Then people will begin to be discontent.”