Raymond,I read the BBC article as reporting a joint proposal from France and Germany for the EU to fund this:"Mrs Merkel, who had previously rejected the idea of nations sharing debt, said the European Commission would raise money for the fund by borrowing on the markets, which would be repaid gradually from the EU's overall budget."This would need consent from the other contributor nations. Katya Adler has posted a piece exploring the politics of this:Politics and PR"At the other end of the spectrum, you can expect the Dutch, the Finns, the Austrians and others dubbed "the frugal north" to have something (pretty negative) to say about grants v loans."
Andy Riley ● 1805d