EU environment and climate ministers held a policy debate on the contribution of environmental and climate policies to the recovery from the COVID-19 pandemic. But it's a drop in the ocean . The EU recovery fund is a strong incentive to steer investment in the direction of sustainability and the green and digital transitions. It put in place immediate measures to mobilise the EU budget and enable maximum flexibility in the application of budget and state aid rules. It was stressed that a well-functioning Single Market and fair competition are the main preconditions for Europe to come out stronger and more resilient from the COVID-19 crisis. Share on Twitter. The macroeconomic reforms linked to the fund will not, however, be enough to generate long‑term growth or solve the debt problems of poorer members. This is more than a recovery plan. They tasked the European Commission to urgently come up with a proposal, which would also clarify the link between the fund and the EU's long term budget. The delayed ratification of the EU recovery fund, and increased pace of bond-buying by the European Central Bank, may lead to further losses for the Euro against its major counterparts in the near . On 15 June 2021, the Commission raised €20 billion in its first NextGenerationEU transaction. The NGEU fund will operate from 2021-2023, and will be tied to the regular 2021-2027 budget of the EU's (MFF). Anyone can benefit from the EU budget. This was the final step in the adoption process following the vote in the European Parliament on 16 December, which endorsed the MFF Regulation with a significant majority. We have the vision, we have the plan, and we have agreed to invest together €806.9 billion*. On 28 July 2021,  Croatia, Cyprus, Lithuania and Slovenia got the green light for the use of EU recovery and resilience funds to boost their economies and recover from the COVID-19 fallout. Drivers of fund performance In seinem vorangegangenen Bestseller stellte George Soros einen theoretischen Rahmen für das Verständnis der Finanzkrise vor, die sich damals abzuzeichnen begann. Europos Komisija palankiai vertina susitarimą dėl 1,8 trln.EUR vertės priemonių rinkinio, kuris padės kurti ekologiškesnę, labiau skaitmeninę ir atsparesnę Europą), (Uniós költségvetés: Az Európai Bizottság üdvözli a zöldebb, digitálisabb és ellenállóbb Európára irányuló, 1,8 billió eurós csomagról született megállapodást), (Il-baġit tal-UE: Il-Kummissjoni Ewropea tilqa' l-ftehim dwar pakkett ta' EUR 1.8 triljun biex jgħin fil-bini ta' Ewropa aktar ekoloġika, aktar diġitali u aktar reżiljenti), (EU-begroting: Europese Commissie ingenomen met akkoord over pakket van 1,8 biljoen euro dat een groener, digitaler en veerkrachtiger Europa tot stand helpt brengen), (Budżet UE: Komisja Europejska z zadowoleniem przyjmuje porozumienie w sprawie pakietu o wartości 1,8 bln euro, który pomoże w budowie bardziej ekologicznej, cyfrowej i odpornej Europy), (Bugetul UE: Comisia Europeană salută acordul privind pachetul în valoare de 1,8 mii de miliarde EUR care va contribui la construirea unei Europe mai verzi, mai digitale și mai reziliente), (Rozpočet EÚ: Európska komisia víta dohodu o balíku v objeme 1,8 bilióna eur, ktorý pomôže vybudovať zelenšiu, digitálnejšiu a odolnejšiu Európu), (Proračun EU: Evropska komisija pozdravlja dogovor o svežnju v vrednosti 1,8 bilijona evrov, ki bo pomagal zgraditi bolj zeleno, bolj digitalno in odpornejšo Evropo), (EU:n talousarvio: Euroopan komissio on tyytyväinen sopimukseen 1,8 biljoonan euron paketista, jolla tuetaan vihreämmän, digitaalisemman ja kestävämmän Euroopan rakentamista), (EU:s budget: EU-kommissionen välkomnar överenskommelsen om ett paket på 1,8 biljoner euro som ska bidra till att bygga ett grönare, mer digitalt och mer motståndskraftigt Europa), (Часът на Европа: възстановяване и подготовка за следващото поколение), (El momento de Europa: reparar los daños y preparar el futuro para la próxima generación), (Chvíle pro Evropu: náprava škod a příprava na příští generaci), (Et vigtigt øjeblik for Europa: Genopretning og forberedelser til den næste generation), (Mitteilung - Die Stunde Europas – Schäden beheben und Perspektiven für die nächste Generation eröffnen), (Euroopa võimalus: parandame vead ja teeme ettevalmistusi järgmise põlvkonna jaoks), (Η ώρα της Ευρώπης: ανασύνταξη και προετοιμασία για την επόμενη γενιά), (Communication: L'heure de l'Europe: réparer les dommages et préparer l'avenir pour la prochaine génération), (Europa na djelu: oporavak i priprema za sljedeću generaciju), (Il momento dell'Europa: riparare i danni e preparare il futuro per la prossima generazione), (Eiropas lielā stunda – jāatjaunojas un jāsagatavo ceļš nākamajai paaudzei), (Proga Europai atsigauti ir paruošti dirvą naujai kartai), (Európa nagy pillanata: Helyreállítás és felkészülés – a jövő generációért), (Il-mument tal-Ewropa: Tiswija u Tħejjija għall-Ġenerazzjoni li Jmiss), (Het moment van Europa: herstel en voorbereiding voor de volgende generatie), (Decydujący moment dla Europy: naprawa i przygotowanie na następną generację), (A Hora da Europa: Reparar os Danos e Preparar o Futuro para a Próxima Geração), (Acum este momentul Europei: să reparăm prejudiciile aduse de criză și să pregătim viitorul pentru noua generație), (Správny čas pre Európu: náprava škôd a príprava budúcnosti pre ďalšie generácie), (Čas za Evropo: obnova in priprava za naslednjo generacijo), (Euroopan h-hetki: korjaamalla ja kehittämällä parempaa seuraavalle sukupolvelle), (EU vid ett vägskäl – bygga upp och bygga nytt för nästa generation), (Бюджетът на ЕС осигурява ресурс за плана за възстановяването на Европа), (El presupuesto de la UE: motor del plan de recuperación para Europa), (Rozpočet EU, který je motorem evropského plánu na podporu oživení), (EU-budgettet som drivkraft bag genopretningsplanen for Europa), (Der EU-Haushalt als Motor für den Europäischen Aufbauplan), (ELi eelarve, mis toetab Euroopa majanduse taastekava), (Ο προϋπολογισμός της ΕΕ τροφοδοτεί το σχέδιο ανάκαμψης για την Ευρώπη), (Le budget de l’Union: moteur du plan de relance pour l’Europe), (Proračun EU-a za provedbu europskog plana oporavka), (Il bilancio dell'UE come motore del piano per la ripresa europea), (ES budžets - Eiropas atveseļošanas plāna dzinējspēks), (ES biudžetas Europos ekonomikos gaivinimo planui įgyvendinti), (Uniós költségvetés – az európai helyreállítási terv motorja), (Il-baġit tal-UE jmexxi l-pjan ta' rkupru għall-Ewropa), (De EU-begroting als drijvende kracht achter het herstelplan voor Europa), (Um orçamento da UE que potencia o plano de recuperação da Europa), (Un buget al UE care capacitează puterea de acțiune a planului de redresare pentru Europa), (Rozpočet EÚ umožňujúci realizáciu plánu obnovy Európy), (Proračun EU kot gonilo načrta okrevanja za Evropo), (EU:n talousarvio Euroopan elpymissuunnitelman moottorina), (EU-budgeten som motor i den europeiska återhämtningsplanen), (2020 Adjusted Commission Work Programme), (Adjusted Commission Work Programme 2020 - Annexes), EU budget - European Commission welcomes the adoption of the EU's long-term budget for 2021-2027, Questions and answers on the adoption of the EU's long-term budget for 2021-2027, EU’s next long-term budget & NextgenerationEU - Key facts and figures, Questions and Answers on the agreement on the €1.8 trillion package to help build greener, more digital and more resilient Europe, EU budget: European Commission welcomes agreement on €1.8 trillion package to help build greener, more digital and more resilient Europe, Communication: Europe’s moment: Repair and Prepare for the Next Generation, Communication: The EU budget powering the recovery plan for Europe, Commission Staff Working Document: Identifying Europe's recovery need, Adjusted Commission Work Programme 2020 - Annexes, This site is managed by the Directorate-General for Communication, Financing the EU long-term budget and NextGenerationEU, A clear roadmap towards new sources of revenue to help repay the borrowing, Coronavirus Response Investment Initiative, Coronavirus Response Investment Initiative Plus, European Regional Development Fund (ERDF), European Fund for Aid to the Most Deprived (FEAD), MFF 2021-2027 Breakdown of Cohesion Policy allocations per Member State (current prices), MFF 2021-2027 Breakdown of European Agricultural Guarantee Fund per Member State (current prices), MFF 2021-2027 Breakdown of European Agricultural Fund for Rural Development per Member State (MFF only, current prices), NextGenerationEU diversified funding strategy, Learn about the tendering process and opportunities for doing business with the European Commission, proposal for the EU’s next long-term budget, the temporary recovery instrument NextGenerationEU. The Recovery and Resilience Facility offers a unique opportunity to strengthen the European Research Area and to make it more impactful - and vice-versa. It was the first in-person summit of EU leaders since the outbreak of the pandemic. On 18 December 2020, the European Parliament and the Council reached an agreement on the Recovery and Resilience Facility, the key instrument at the heart of NextGenerationEU. In order to receive support from the Recovery and Resilience Facility, EU countries plans are asked to set out a coherent package of projects, reforms and investments in six policy areas: EU countries have until 30 April 2021, as a rule, to submit their national recovery and resilience plans setting out their reform and investment agendas until 2026. During the video conference of the members of the European Council, EU leaders decided to work towards establishing a recovery fund. On 10 November 2020, the European Parliament and the Council reached an agreement on the package. As the global economy maintains its recovery path in the second half of this year, Schroders recommends investors to focus on long-term structural trends, while at the same time, to balance short term risks. European Commission. She speaks with Bloomberg's Anna Edwards and Mark Cudmore on . France is proposing that the European Commission issue bonds to finance a recovery fund for the European Union worth between one and two percent of the bloc's gross national income (GNI) per . Marshall Plan Video Contest Award Ceremony. It was subsequently taken forward as a key priority in the Council. NextGenerationEU is a more than €800 billion temporary recovery instrument to help repair the immediate economic and social damage brought about by the coronavirus pandemic. Facts and figures of MFF 2021-2027 and NextGenerationEU. Im Buch gefunden – Seite 67The party also supported the establishment of a European Recovery Fund able to utilize the credit rating of EU institutions to raise finance for ... Coronavirus: Von der Leyen calls €750bn recovery fund 'Europe's moment'. The note evaluates the current legislation on the asset recovery process both at the EU and Member States level, with a view to assessing the need and the feasibility of establishing EU regulation on the use of confiscated assets for civil ... Im Buch gefunden – Seite 3006,575,168,092 European Recovery Program . Period 4/3/49 to 6/30/49 . ... This decline reflects , in part , transfer of the administration of funds ... The biggest news is, rather, that steps have been taken to consolidate the debt: For the first time the . Charles Michel, President of the European Council, Paschal Donohoe, President of the Eurogroup, EU-UK negotiation on the future relationship, European Council President's speeches and statements, Recovery fund: ministers welcome assessment of four more national plans (press release, 28 July 2021), Council gives green light to first recovery disbursements (press release, 13 July 2021), COVID-19: the EU's response to the economic fallout (background information), Recovery plan for Europe (European Commission), Special European Council, 17-21 July 2020, EU recovery package: Council adopts Recovery and Resilience Facility (press release, 11 February 2021), EU long-term budget for 2021-2027 (background information), A digital future for Europe (background information), European Green Deal (background information), Assessment of recovery and resilience plans (European Commission), Green light from all member states for EU recovery spending (press release, 31 May 2021), President Ursula von der Leyen welcomes the first official submission of a recovery and resilience plan by Portugal (European Commission press release, 22 April 2021), Informal video conference of research ministers, 26 February 2021, Informal video conference of internal market and industry ministers, 25 February 2021, Recovery and Resilience Facility: Council presidency and Parliament reach provisional agreement (press release, 18 December 2020), Multiannual financial framework for 2021-2027 adopted (press release, 17 December 2020), Council approves conclusions on making the recovery circular and green (press release, 17 December 2020), Next multiannual financial framework and recovery package: Council moves to finalise adoption (press release, 14 December 2020), Presidency and Parliament reach political agreement on REACT-EU (press release 18 November 2020), MFF and recovery package: Council presidency reaches political agreement with the European Parliament (press release, 10 November 2020), Capital Markets Recovery Package: Council agrees its position (press release, 21 October 2020), Council agrees position on the Recovery and Resilience Facility (press release, 9 October 2020), Video conference of economics and finance ministers, 6 October 2020, Video conference of the Eurogroup, 5 October 2020, Council sets priorities for future Single Market policy in the post COVID-19 era (press release, 21 September 2020), European industrial strategy (European Commission), President Charles Michel presents his proposal for the MFF and the recovery package, 10 July 2020, Video conference of environment ministers, 23 June 2020, Video conference of the members of the European Council, 19 June 2020, Long-term EU budget 2021-2027 (background information), Video conference of ministers of health, 12 June 2020, Video conference of economics and finance ministers, 9 June 2020, European Semester (background information), Charles Michel on the recovery fund and EU budget (press release, 27 May 2020), Conclusions of the President of the European Council following the video conference of the members of the European Council, 23 April 2020, Invitation letter by President Charles Michel to the members of the European Council ahead of their video conference on 23 April 2020, A joint roadmap for recovery, 21 April 2020, Recovery and Resilience Facility: €672.5 billion, smart, sustainable and inclusive growth and jobs, policies for the next generation, including education and skills, general eligibility rules for the national recovery and resilience plans, the assessment criteria used by the Commission, help EU companies raise capital on public markets, fostering the European development of the, making use of digital technologies to reach the ambitious. They agreed that the European Green Deal should guide the recovery towards green growth and a more resilient EU. And most importantly, this is the right deal for Europe, right now. bloomberg-markets-european-close; July 13th, 2020, 5:20 PM GMT+0000. With your permission, we will use AT internet cookies to produce aggregated, anonymous data about our visitors' browsing and behaviour on our website. We will use this data to improve your experience on our website. But, by itself, the recovery fund cannot ensure that the dearth of public investment in the past decade is repaired. Im Buch gefunden – Seite 182Darvas, Zsolt (2020b): Having the cake, but slicing it differently: how is the grand EU recovery fund allocated?, Bruegel Blog, 23 July 2020, ... This column argues that there are gains from using European borrowing and lending as two separate policy levers. The EU's recovery package represents an important milestone in European economic policy integration. The Council has received formal notifications about the approval of the "own resources" decision from all 27 member states. To get more information about these cookies, how and why we use them and how you can change your settings, check our cookies policy page. European countries could see the first money from the EU's pandemic recovery fund this summer, under a political agreement reached among legislators in the early hours of Friday.. The Council adopted the second batch of implementing decisions on the approval of national recovery and resilience plans. It amounts to €750 billion in 2018 prices. The recovery plan that Ms von der Leyen put before the European Parliament would boost EU spending by a total of 750 billion euros, increasing the bloc's budgetary firepower by more than two-thirds. Fitch Ratings-London-23 July 2020: The EUR750 billion recovery fund agreed by EU leaders is net supportive for EU sovereign ratings, Fitch Ratings says. More than 50% of the amount will support modernisation, for example through: In addition, the package pays attention to, All amounts in € in current prices. We have reached a deal on the recovery package and the European budget. Find open and upcoming calls for funding proposals, get background information on funding processes and programmes, and apply online. On 31 May 2021, the Own Resources Decision has been ratified by all Member States in line with their constitutional requirements. Portfolio activity. The Next Generation EU (NGEU) fund is a European Union recovery package to support member states hit by the COVID-19 pandemic. The provisional agreement covers a number of elements, including: At least 37% of each plan’s allocation has to support the green transition and at least 20% the digital transformation. ( EurActiv) — Europe's economic recovery from the impact of COVID-19 is gaining momentum, the European Commission concluded in an . Limited in time because the MFF and the rules governing it remain the basic frame for the Union's budgetary planning and implementation. Paris, Aug 19 (EFE) .- France receives its first disbursement of the community recovery fund this Thursday, an advance that amounts to 5,100 million euros, the French Minister of Economy and Finance, Bruno Le Maire, said on . The German presidency of the Council and the European Parliament's negotiators reached a provisional agreement on the Recovery and Resilience Facility. Moreover, it was widely acknowledged that research and innovation are crucial in achieving the green and digital transitions. EU ministers for health held a first exchange of views on the European Commission's proposal for a regulation establishing the fourth Health programme (EU4Health programme) for the period 2021-2027. Hungary and Poland have managed to block Europe's €750 billion Recovery Fund. In parallel, the European Central Bank (ECB) has continued to maintain financial stability, and its firepower will remain crucial until the recovery fund is agreed and becomes available. A European Green Deal. Additionally, Bulgaria still lacks a strategy on how to spend the €16.7 billion allocated from the 2021-2027 Multiannual Financial Framework .
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