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EU executive expected to receive a dozen of plans by midnight on Friday. Scholz and Le Maire called on the rest of the 27 to send their proposals and ratify “as soon as possible” the Own Resources Decision, needed to be able to borrow the €800 billion to finance the recovery fund. National diplomats had questioned why the Commission needed two months to validate the plans, since the institution has been discussing the content with some countries since last October. Le Maire called on the Commission to assess the plans “without delay”, so they can be approved by the Council in Jul...

"Big four" in EU Push for Fast Application of Recovery Plan Novinite.com Finance ministers of Germany, France, Italy, and Spain urged member states on Wednesday (28 April) to submit their recovery plans and pressed the European Commission to speed up the assessment of the investment and reform proposals. Ministers Olaf Scholz (Germany), Bruno Le Maire (France), Daniele Franco (Italy) and Nadia Calviao (Spain) said in a joint declaration on Wednesday that the four largest European economies will submit their recovery plans this week. By Thursday evening, the Commission confirmed the submissio...

Finance ministers of Germany, France, Italy, and Spain urged member states on Wednesday (28 April) to submit their recovery plans and pressed the European Commission to speed up the assessment of the investment and reform proposals.  Ministers Olaf Scholz (Germany), Bruno Le Maire (France), Daniele Franco (Italy) and Nadia Calviño (Spain) said in a joint declaration on Wednesday that the four largest European economies will submit their recovery plans this week. By Thursday evening, the Commission confirmed the submission of the Portuguese, Greek, and German final drafts. The EU executive e...

President Ursula “ Across Europe, we can see vaccination campaigns accelerating. In parallel, it is now all the more important to launch NextGenerationEU. Economic recovery must go hand in hand with an improved health situation on the ground. I welcome Portugal‘s recovery and resilience plan as the first one officially submitted to the Commission. The submission marks the beginning of a new phase in the process of implementing the Recovery and Resilience Facility. The Commission looks forward to assessing the Portuguese plan, which focuses on resilience, climate and digital transitions a...

by eub2 -- last modified 15 April 2021 The European took steps on 14 April to ensure that borrowing under the temporary recovery instrument NextGenerationEU will be financed on the most advantageous terms for EU Member States and their citizens. Advertisement What did the Commission decide on 14 April 2021 and why is it important? NextGenerationEU – at the heart of the EU's response to the coronavirus pandemic – will be funded by borrowing on the capital markets. We will raise up to around €800 billion between now and end 2026. This would translate into borrowing volumes of on a...