EU reveals strategy to raise €800 billion in debt for recovery fund, to be repaid by 2058

EU budget commissioner, Johannes Hahn, says in a statement

• EU to use a diversified funding strategy to raise as much as €800 billion until 2026
• Borrowing to include green bonds, EU bills
• Borrowing to roughly average €150 billion per year, will be repaid by 2058
• Full press release

It all sounds good until the next crisis comes along. And then..