Collective Policy Learning behind European Financial Assistance Integration: Covid-19 and the Russian war on Ukraine
摘要
This chapter investigates the role of collective policy learning in shaping the evolution of the European Union (EU)’s financial assistance regime across two major crises: the Covid-19 pandemic and the Russian invasion of Ukraine. It argues that the pandemic prompted significant learning-driven integration, most clearly embodied in the Recovery and Resilience Facility (RRF). Building on the perceived failures of the Euro crisis, the RRF introduced common borrowing, grant-based transfers and supranational modes of governance, reflecting a deliberate departure from the intergovernmentalism of the European Stability Mechanism (ESM). Following the Russian war on Ukraine, these innovations have been extended to financial assistance in the security and defence field. While the Security Action for Europe (SAFE) is loans-based, it mirrors the RRF’s governance through national defence investment plans assessed by the European Commission, milestone-linked disbursements and Council authorisation by qualified majority voting (QMV). This suggests that the EU can replicate its financial assistance governance beyond the economy, resulting in collective policy learning across policy domains.