Has the EU just crossed its Rubicon to unity?

Christian Odendahl, the chief economist at the Centre for European Reform, confirms. However, German politicians are stressing that the half-a-trillion-euro plan is a one-off solution for a once-in-a-lifetime crisis, he says.

“So, in a way you can say that Germany broke its own taboos – but only to a certain extent,” Odendahl told me. “This shows that Germany really is willing to put its money where its mouth is and provide solidarity for Europe in an crisis. Describing it as a 180-degree turnaround is not fair though. It does not change the basics.”