May 29, 2020, 10 a.m.
Next Generation EU
The coronavirus pandemic has damaged all continental Europe like it damaged many other countries in all the world. One of the major damage has been lived in health sector as well as in the economic sector. According to this, the EU has to build new ways to repair their Single Market, to protect lives, and recover their budgets. Therefore, to ensure an effective response, reaching out to everybody in the EU and to its global partners, the Commission is mobilising a variety of instruments.
European Commission President Ursula von der Leyen has announced a 750 billion Euro aid plan which is named Next Generation EU to save EU countries from the economic crisis caused by the Coronavirus pandemic. One of the main aim of the Next Generation EU is to ensure the recovery is sustainable, even, inclusive and fair for all Member States.
Next Generation EU will provide a financial support for reforms and investments undertaken by EU countries, notably towards the green and digital transition. In addition to this, it will help to make EU’s economy more resilient and better prepared for the future.
Next Generation EU will be rolled out under three pillars:
- Supporting Member States to recover, repair and emerge stronger from the crisis,
- Kick-starting the economy and mobilising private investment,
- Learning the lessons of the crisis and addressing Europe’s strategic challenges.
As we all know, Spain and Italy have seen the highest number of deaths and economic damage in the EU during the coronavirus crisis. According to this proposal, Italy may receive 81.8 billion Euro and, Spain may receive 77.3 billion Euro. But, the proposal of the Next Generation EU has to be approved by the European Parliament. For this reason, the Commission has to wait the Leaders Summit which will be held in June, 2020.
See for more detail:
Resources:
https://ec.europa.eu/commission/presscorner/detail/en/SPEECH_20_941
https://ec.europa.eu/info/sites/info/files/factsheet_1_en.pdf
https://www.dw.com/tr/abden-salgın-sonrası-için-750-milyar-euroluk-plan/a-53588186
