Capital · available
no single EU reserve pile — the EU institutions hold no large sovereign fund; liquidity is joint borrowing capacity (NextGenEU) + the sum of member-state FX reserves + ECB. AAA-rated EU joint issuance is the novel instrument.
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- Wikipedia — List of countries by sovereign wealth funds (no EU-institution fund) + analytical EU institutions have no sovereign wealth fund on the SWF list; capacity is joint (NextGenEU) borrowing + member reserves
the working
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