Expect a Total Collapse: The Green Deal in the EU Goes Unfunded

The European Commission has estimated the cost of its Green Deal to be €620 billion, but has only allocated €82.5 billion towards it, leaving the deal largely unfunded. This lack of funding poses a significant challenge to the implementation of the Green New Deal and other programs. The absence of a consensus on financial instruments and the inability to issue Eurobonds further hinder the EU’s ability to secure necessary funds. The EU must address its funding limitations to effectively carry out its ambitious goals, or risk the collapse of the Green Deal and other initiatives.