No wonder if we are shy about Finland – the co -debt should go to joint projects

When Mario Draghi Last fall, in his report, the vision of the EU as a useful vision of the new debt, did he tear his hat of EUR 800 billion a year?

Just over EUR 800 billion in co -debt has been distributed since summer 2020. The money is intended to help the Member States affected by the corona pandemic back to their feet between 2021 and 2026.

The distribution of money is just unlike Dragh’s interpretation as proposing. Governments have received billions of their own, national use – not for joint projects.

In Spain’s boom and full employment

The Spanish Social Democratic -led Left Government received more than EUR 160 billion in EU grants and loans. Finnish demarcation Sharin marin The government received EUR 2 billion.

Spanish Minister of Economy at the time Nadia Calviño -Who is now the Director General of the European Investment Bank-promised Prime Minister Marin that even Finnish companies will be able to participate in the investments brought by EU subsidy money in Spain.

So far, however, no project that Finns could have participated in. In contrast, EU milieu has been attracted to Chinese companies to manufacture electric cars, batteries or electrolysis tracks for hydrogen projects.

Spain’s GDP rose to the pre -pandemic level as early as 2022, when Russia’s attack on Ukraine with all its consequences began. Inflation and interest rates started to rise.

In Finland, the construction and the real estate market went on to the crisis, but in Spain, a strong real estate boom began.

Spanish housing prices are rising in high demand, there is a shortage of skilled builders and the country is approaching full employment. Last year, the economy grew by more than 3 %, and state tax revenue expands.

The Madrid Stock Exchange is praising at the record level, in Helsinki the opposite is true.

Where are joint projects?

None of this imbalance has apparently been observed in the EU Commission. Supporting agents continue to flow as the pandemic summer 2020 was decided.

Where are joint debt projects funded by joint debt? Should you first define and decide on projects, and then only their possible joint funding?

In the light of the experience so far, it is no wonder if Finland is shaken by common debt – and in Spain, it wants more from 2027.