Is coronavirus the EU's defining moment?
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 29 May 2020
⏱️ 17 minutes
🧾️ Download transcript
Summary
The coronavirus epidemic has wreaked economic destruction across Europe but now the European Union has unveiled an ambitious recovery plan. It will involve all 27 member states working together as one like never before with a 750 billion euro plan to help the worst hit countries, funded by collective debt. Is this the defining moment for the EU that some are claiming? Former Italian PM Enrico Letta thinks that it's a turning point for the EU, but Northern neighbours in Sweden and the Netherlands urge caution. MEP Derk Jan Eppink calls it a 'coup', whilst Sweden's European Affairs Minister, Hans Dahlgren insists that money needs to be paid back. Manuela Saragosa presents. (Image: Ursula von der Leyen, Credit: Reuters)
Transcript
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| 0:00.0 | Hello and welcome to Business Daily from the BBC with me, Manuela Saragossa. |
| 0:07.6 | In this edition, how the coronavirus pandemic may finally be forcing the European Union to act as one. |
| 0:15.1 | This is Europe's moment. |
| 0:18.0 | We either all go it alone, leaving countries, regions and people behind, or we walk that road |
| 0:26.5 | together. We'll hear what the EU Economic Rescue Plan tells us about the Union's future and what |
| 0:33.4 | still stands in the way. 27 member states have to agree. |
| 0:38.1 | Even a small country can block it. |
| 0:40.9 | You cannot force a country to go along with this scheme, |
| 0:44.7 | and I think there should be an option of opting out of it. |
| 0:47.9 | That's all here in Business Daily from the BBC. |
| 0:56.1 | A defining moment for Europe, one for the history books, |
| 1:00.3 | a bold proposal that will take the EU where it's never dared go before. |
| 1:08.7 | Some have even called it the EU's Hamilton moment. |
| 1:15.1 | Your advice is great of value. |
| 1:19.3 | So, independence. |
| 1:22.1 | Why Hamilton? |
| 1:23.3 | Well, a film about the 18th century U.S. Revolutionary War hero Alexander Hamilton |
| 1:28.2 | is about to hit the big screen later this year. |
| 1:31.0 | That's the trailer you're hearing there. |
| 1:32.5 | The future of prosperity that this nation rests chiefly in trade. |
| 1:37.7 | If the states are indebted to a central authority, |
| 1:41.4 | it increases the power of the central government. |
... |
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