The European Commission has released preliminary details of how it will borrow up to €800 billion for the NextGenerationEU (NGEU) recovery facility through a diversified programme of medium- and long-term bond syndications and bill auctions through a yet-to-be-chosen electronic platform.
It will use a network of primary dealers. The European Union will soon be sending out full terms and conditions to prospective members of this group.
A first taste is that they will each have to commit to buy at least 0.05%
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