you're reading...
Economic and Social Policies, EU Financing / Budgetary Affairs, PUBLICATIONS

EU budgetary and financial response to the coronavirus crisis

Written by Clare Ferguson, Marianna Pari, Stefano Spinaci (updated on 24.06.2020),

Within the limits of its powers, the EU has acted quickly to tackle the coronavirus pandemic and its consequences. Showing considerable flexibility, EU institutions have organised a package of measures (some already decided, others proposed or requested), to counter the crisis, drawing both on the EU budget and a wider economic package. Parliament called on the European Commission to propose a €2 trillion recovery package, distributed mostly through grants (over which Parliament will maintain scrutiny) rather than loans, and warned against the presentation of misleading figures. The recovery package should provide real funding to help those hardest-hit, and focus on climate mitigation, digitalisation and a new health programme. On 27 May 2020, the Commission proposed a comprehensive recovery plan – ‘Next Generation EU’ – a new recovery instrument of €750 billion to boost the EU budget with new financing raised on the financial markets for 2021-2024, along with a revised multiannual financial framework of €1 100 billion for 2021-2027.

© European Union, 2020 –European Parliament / EPRS


Read the complete briefing on ‘EU budgetary and financial response to the coronavirus crisis‘ in the Think Tank pages of the European Parliament.


Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download the EPRS App

EPRS App on Google Play
EPRS App on App Store
What Europe Does For You
EU Legislation in Progress
Topical Digests
EPRS Podcasts

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 3,383 other followers

RSS Link to Members’ Research Service

Disclaimer and Copyright statement

The content of all documents (and articles) contained in this blog is the sole responsibility of the author and any opinions expressed therein do not necessarily represent the official position of the European Parliament. It is addressed to the Members and staff of the EP for their parliamentary work. Reproduction and translation for non-commercial purposes are authorised, provided the source is acknowledged and the European Parliament is given prior notice and sent a copy.

For a comprehensive description of our cookie and data protection policies, please visit Terms and Conditions page.

Copyright © European Union, 2014-2019. All rights reserved.

%d bloggers like this: