The unprecedented Recovery and Resilience Facility, the main instrument of the EU’s €800 billion recovery fund, represents a unique opportunity to overcome the recession triggered by the COVID-19 pandemic and complete the twin green and digital transitions of the European economies.
But the European Commission, international institutions, and experts agree that for this to work, member states must put forward well-designed investment proposals, ambitious reforms and solid governance systems.
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EU recovery fund struggles to find its true nature
Amid doubts around the implementation of the €800 billion recovery fund, European Commission and experts stress that the EU instrument is not a US-like emergency stimulus but an investment tool for the medium-term to transform the European economy.
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Pressure mounts on member states to ensure successful roll-out of recovery fund
As the EU recovery fund slowly nears its implementation phase, member states’ absorption capacity and control mechanisms are considered among of the main challenges for its successful roll-out.
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National authorities take center stage in fight against fraud with recovery funds
National control mechanisms will be responsible for ensuring that the EU recovery funds are not affected by corruption or fraud, although the European Commission is also getting ready to use the new rule of law mechanism as soon as possible.
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The new kid on the EU bond block
The European Union is set to become the continent’s largest supranational bond issuer within the next five years as a result of its SURE and NextGeneration programmes, aimed at helping the bloc’s economies recover from the damage caused by the COVID–19 pandemic.
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Portugal investors demand bank bond money back or will boycott European fund
A group of international institutional investors coordinated by the Attestor Capital fund, on the hook for €2 billion in the Banco Espírito Santo case, want the European Commission to settle the case, warning that otherwise, they will not fund the post-pandemic economic recovery.
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Thinking about investing in Portugal? Think again.
In 2017, a coalition of institutional investors, including Pimco and Blackrock, boycotted an issuance of Portuguese bonds to protest the risks associated with actively investing in Portuguese public or private debt “as the Banco de Portugal still has not addressed …
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The truth behind BES and Novo Banco!
If the EU wishes to borrow in the financial markets, it must first demonstrate to international institutional investors that it will treat them fairly and equitably.