It was big and bold and came out of the blue — Angela Merkel and Emmanuel Macron took Europe by surprise with a plan for a €500 billion EU recovery fund. Was it a historic moment for Europe? How would the scheme work? And can the skeptics be won over? POLITICO's Rym Momtaz, Matthew Karnitschnig and Andrew Gray break down the politics behind the plan and preview the battles ahead.

To add an expert economist's view into the mix, Matt catches up with Lucas Guttenberg, deputy director of the Jacques Delors Centre at the Hertie School of Governance in Berlin.

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