EU states spurn €74bn in unused Covid recovery loans
Eight countries cut planned borrowing under scheme as deadline to spend the cash looms
Eight countries cut planned borrowing under scheme as deadline to spend the cash looms

Italy, Spain and Poland struggle to get recovery programmes off ground

Europe’s debt crisis demands a new public spending model

Western governments, in particular the US, have cut back on economic and welfare support for developing countries

Tussles over what to put on euro banknotes are symbolic of deeper dysfunction

France, Italy, Spain and Poland among countries requesting support from project designed to spur defence spending

There are limits to extrapolating from last year’s economic resilience