Faced with the economic crisis linked to the coronavirus, representatives of German, French and Italian employers in Brussels and the governments of the European Union are calling for stimulus measures of up to 5% of GDP for five years, and more generally a plan on a European scale.
“A major public policy response is required. European and international cooperation for a way out of the crisis and for recovery is essential, "say Vincenzo Boccia, president of Confindustria in Italy, Dieter Kempf, president of the German BDI, and Geoffroy Roux de Bézieux, president of the French Medef, in this text published this Tuesday, notably in Les Echos .
"A European stimulus fund of adequate size"
"Beyond the first package of measures on the lending capacities of the EIB (European Investment Bank), the Commission and the MES (European Stability Mechanism), we call on European leaders to quickly approve a bold proposal for the next multiannual framework of the European budget, in order to create a European stimulus fund of adequate size ", add the signatories of this forum.
While calling for the establishment of "substantial stimulus measures" at least until 2023 and "up to 5% of GDP per year in most countries", they are calling for national measures to "support demand". These must be based both on "tax cuts and public spending". "Specific aid for the most vulnerable must intervene taking into account the extraordinary severity of the recession," say the signatories.
Finally, they call on Europe to finance "the new political priorities", in particular "the ambitions for a greener, more inclusive and innovative and more sovereign Europe", in order to give "a new impetus to digitization", among others.
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- Covid 19
- EU
- Medef
- Economic crisis
- Coronavirus
- Economy
- Employers