Recovery & Resilience Facility
- Dragoș Pîslaru
- Friday 11 September 2020
- European Union Seminar Series
The coronavirus crisis has hit the European economy hard, with the expected GDP drop in 2020 already around 7% and likely to be even greater in the event of another series of lockdowns this autumn. To mitigate the effects of the crisis, the European Commission has proposed the creation of a new Recovery and Resilience Facility. The programme would have allowed the EU as a whole to raise 750 billion euro on the financial markets and use the money to support public investment and reforms in its member states in order to ensure a speedy recovery. Even though there is a general agreement on the need for such a package, however, the details remain controversial. The scope of the funding has been reduced following a fierce debate in the European Council this July, which has especially hurt EU’s funding for science and innovation, and the European Parliament is demanding assurances that the EU’s budget will remain robust by guaranteeing new sources of own financing to the EU, including a highly controversial carbon tax.
To find out more about the challenges of EU financing, and contribute to the ongoing discussion about where the money should be invested in order to secure a prosperous future for the EU, join us for a webinar with MEP Dragoș Pîslaru on Friday 11 September at 9am.
Please note that the meeting will be followed by another consultation with representatives of the Dutch government, industry, and civil society. If you like, you are welcome to remain in the ‘meeting room’ to listen but cannot ask questions. You may also not report, publish, or post, any of the statements of the stakeholders without their express permission.