… to the member states. On June 15, it sold €20 billion of 10-year bonds. On June 29, it sold €9 billion in 5-year bonds … and €6 billion in 30-year bonds. And on July 13, it sold €10 billion in 20-year bonds. Not surprisingly, the sales were … plan. One important factor was the activation in March 2020 of the “general escape clause” from the EU’s fiscal …