About: Recovery Fund
Italy, Spain and France worst performers as recession deepens
Italy, Spain and France will register the worst economic downturn among eurozone countries this year as the contraction will be more severe than previously expected, according to the latest European Commission forecast published on Tuesday (7 July).
Six months to reflect on the new world we want
Decision makers should ‘take a breath’ and come up with a comprehensive plan to achieve the digital and green future we want in the aftermath of the coronavirus crisis, officials and experts said.
Merkel and von der Leyen: Two long-time companions guiding Europe
They have ruled Germany together for 15 years. Now they are at Europe's helm. With the start of the German EU Presidency, Chancellor Angela Merkel and European Commission President Ursula von der Leyen have, together, forged plans to navigate Europe out of crisis, EURACTIV Germany reports.
Merkel and Macron show unity ahead of all-important EU summit
In a show of unity, French President Emmanuel Macron and German Chancellor Angela Merkel met on Monday (29 June) and reaffirmed their commitment to the EU Recovery Fund, voicing hope that EU leaders would overcome their current differences. EURACTIV Germany reports.
EU leaders to hold summit on 17-18 July on virus recovery package
The leaders of the 27 EU member states will meet in Brussels on July 17, their first physical summit since the coronavirus lockdown began, to discuss an economic recovery package and the EU's next seven-year budget.
EU recovery fund leaves €1.6 trillion investment gap towards climate targets, experts say
Calculations by experts now show that the EU's planned economic rescue package, worth €750 billion, is nowhere near enough to achieve the bloc's climate targets. Even in the best-case scenario, only one-third of the costs would be covered. EURACTIV Germany reports.
Merkel on EU Recovery Fund: ‘The bridges we have to build are large’
The European Council summit ended on Friday (19 June) without agreement on the EU recovery fund. However, German Chancellor Angela Merkel made it clear that she wants to act quickly, and the next round of negotiations is scheduled for mid-July. EURACTIV Germany reports.
Leaders pledge to agree on recovery package next month
EU leaders held “constructive” discussions on Friday on the EU’s €750 billion recovery fund to overcome the coronavirus crisis, and pledged to reach an agreement next month, despite the enormous differences among the member states.
Fiscal adjustment needed to unlock recovery funds, EU official warns
EU leaders will discuss for the first time on Friday (19 June) the €750 billion recovery fund proposed by the Commission to overcome the coronavirus crisis. But in order to access EU aid, member states will have to bring down their ballooning public debt, an EU official explained.
IMF’s Georgieva: Kudos to Europe for the recovery fund
The managing director of the International Monetary Fund, Kristalina Georgieva, congratulated the EU for stepping up its collective response to the COVID-19 crisis with the proposed €750 billion recovery fund, but cautioned that the proposal will first have to survive “long nights of negotiations".
European energy decarbonisation: reinforcing the EU’s 2050 climate goal through a green recovery
Decarbonising the energy sector in Europe by 2050 is an ambitious, yet achievable objective.
EU agreement on recovery plan by July ‘very difficult’, officials warn
It will be “very difficult” to reach an agreement on the recovery fund and the EU's overall seven-year budget by July, as intended, given the disagreements over the size, the distribution of the stimulus and the attached conditions, EU officials and national diplomats acknowledged on Wednesday (10 June).
EU finance ministers examine recovery plan amid deep divisions
European Union finance ministers reviewed the EU’s €750 billion plan for post-pandemic recovery on Tuesday ahead of what will be fractious negotiations over who should get the cash and even over the legality of borrowing to offer grants. The European...
Ex-Eurogroup boss: Nobody is so stupid to propose to ‘just go back under 3% deficit’
As one of the most influential Eurogroup figures during the previous crisis, Thomas Wieser chaired the preparatory meetings of eurozone finance ministers between 2011 and 2018. In an interview with EURACTIV, the American-Austrian economist described the EU’s fiscal rules as “bad practical economics”, in particular for handling a crisis such as the current one.
Lagarde warns of market turbulences if no quick adoption of recovery fund
European Central Bank President Christine Lagarde called on member states on Monday (8 June) to urgently adopt the EU recovery plan, saying any delay could create “negative spillovers” in the markets and increase the costs of overcoming the recession.
COVID-19 relief for fossil fuel industries risks green recovery plans
The failure of governments and central banks to set out a green recovery from the coronavirus crisis is threatening to derail vital UN climate talks aimed at staving off global catastrophe, campaigners have warned. EURACTIV's media partner, The Guardian, reports.
Commission vows to break with troika-type conditions in recovery phase
It is increasingly evident that the European Commission has no intention to return to the tight cash-for-reform system to manage the recovery funds and that ‘hawkish’ member states could find it difficult to turn the proposed procedure into a troika-type oversight.
Commission defends reinforced CAP budget to greening EU’s farming
It is very difficult to make EU's main farm policy greener when figures on the bottom line are red, said budget Commissioner Johannes Hahn in an attempt to uphold the latest proposal of increased spending for the Common Agricultural Policy (CAP).
Commission to rely more on financial engineering for external action
The European Commission's fresh budget proposal is set to increase the overall financing available for external action but it will rely more on financial engineering, with guarantees and 'multiplier effects', than on traditional funding via the EU long-term budget.
Will the EU have a new ‘single market tax’ for multinationals?
The European Commission is working on a proposal for a new tax on multinationals operating on the single market to finance the recently proposed recovery fund, but the Commissioner for Internal Market, Thierry Breton, told EURACTIV he recommends being "very cautious" rather than too imaginative in picking new levies.
Tweets of the Week: Election Anniversary, Cummings, Next Generation EU
One year since elections has left us all scarred, a trip during lockdown hits Cummings rep hard, and Ursula von der Leyen channels Jean-Luc Picard.
Von der Leyen’s other stimulus: A private sector boost of €600 billion
As part of its recovery plan, the European Commission wants to attract €600 billion of additional private investments in order to finance strategic sectors and support viable companies at risk of liquidity shortages in the aftermath of the COVID-19 crisis.
All eyes on Germany’s ‘crisis’ presidency, expected to lead EU recovery
The outbreak of the coronavirus pandemic has forced Germany to radically revise the priorities for its EU Council Presidency in the second half of the year. One thing is clear: the biggest EU country takes the helm in the midst of an unprecedented crisis, at a crucial time for the bloc's recovery efforts. EURACTIV Germany reports.