European recovery plan: the incredible delay in the United States

While the United States has just adopted its third stimulus package, Europe is still waiting for its.

In the United States, there is a whole debate to ask whether they are not doing too much to revive their economy, if the massive public support plans implemented over the past year will not cause inflation, even a form of overheating.

We are not close to having this debate there in Europe because our recovery plan of 750 billion, we are still waiting for it.

It was validated on July 21.

But we haven't seen a cent yet because the 27 Member States, plus a number of local parliaments, must vote to allow the Commission to borrow on the financial markets.

So that's about forty votes in the 27, you imagine the heaviness.

However, for the moment, only a few countries like France or Portugal have given their final green light.

We are now wondering if the first country to contribute to this plan will not issue a red light.

All this scaffolding is hanging on a decision of the German Constitutional Court.

At the end of last week, she banned the German president from promulgating the law approving the stimulus package.

It had been seized in summary by an extreme right group which does not support that a single euro of German taxpayers can help the revival of the neighboring countries.

The two chambers of the German Parliament had, however, given the green light.

We must therefore now wait for this same constitutional court to rule on the merits.

This is a political setback for Angela Merkel but it is above all worrying because any delay is extremely damaging: the European Central Bank keeps saying it, the European economies, France, Italy, Spain, all have These funds are absolutely necessary to restart the machine, accelerate the recovery, create jobs.

And meanwhile, the gap is widening with the United States.

Washington which has put on the table more than a third of its GDP to boost its economy.

Joe Biden's bet is to find at the beginning of 2022 the level of wealth that would have been reached without the pandemic.

There is also a strategic calculation behind that: there is no question of being left behind in anything by China in world markets.

So we are relaunching in all directions.

China has set off again on the hats of wheels, the United States is relaunching massively and us?

We are awaiting the votes of our neighbors and the verdict of German constitutional judges, hoping not to be definitively left behind.

It's not win.