European recovery plan: Brussels in a hurry to act quickly
The President of the European Commission, Ursula von der Leyen, at the European Parliament in Brussels, Tuesday April 27, 2021. AP - Olivier Hoslet
Text by: RFI Follow
3 min
This Friday is the deadline for the Twenty-Seven to officially present their national recovery plan to the European Commission.
Not all should meet the deadlines.
In the meantime, some, like Paris, Berlin or Christine Lagarde, the president of the ECB, urge Brussels to act quickly.
What will happen once the plans are submitted?
Publicity
Read more
The European Commission will be able to start the formal examination of investment and reform projects.
This phase should last two months, until the end of June therefore.
For example, the Commission will check that the projects comply with certain criteria defined in the
NextGenerationEU
plan
.
At least 37% of investments must concern the environment, and 20% the digital transition.
To ensure the proper use of public funds, the Commission is also asking States to commit to structural reforms with a two-year deadline.
That said, she has already held preliminary discussions, so some blockages have already been overcome.
► To read also: Italian recovery plan: for Mario Draghi, "Italy is playing its destiny"
Once the Commission's examination is finished, the European Council will also have to give the green light.
This will take up to four additional weeks.
If all goes well, the first payments could come in July.
13% of the sums to which States can claim will then be released.
This will require another condition: that all Member States have ratified the European recovery plan bitterly negotiated last July.
A little less than ten countries are missing.
►
See also: EU: national recovery plans presented to the European Commission
Macron urges the EU to act "very quickly"
“
The Commission has put itself in a position to borrow.
It will do so, I hope, very quickly, from this summer,
”one year after the adoption of the plan in Brussels in July 2020, Emmanuel Macron said on Thursday, welcoming Slovenian Prime Minister Janez Jansa to the Elysee Palace.
Recalling that France had submitted its plan to the Commission, he once again welcomed the "
historic breakthrough
" represented by this recovery fund of
750 billion euros
(5.6% of European GDP) financed by a debt issue. common.
France will receive nearly 40 billion euros.
The Slovenian Prime Minister, whose country will take the rotating presidency of the EU from July, also underlined the "
need for a concrete realization as soon as possible
" of this plan, calling on the Commission to be "
flexible and rapid.
".
Newsletter
Receive all international news directly in your mailbox
I subscribe
Follow all the international news by downloading the RFI application
google-play-badge_FR
European Union
France
Finance