“This is Europe’s moment”, said EC president Ursula Von Der Leyen.
The big day has arrived the European Commission has laid out its vision for post-pandemic recovery funds, and it is worth 1.85 trillion euros. The plan relies on both the long-term EU budget (2021-27) and a special recovery fund.
Commission President Ursula von der Leyen is addressing the European Parliament, an effort to persuade MEPs who also get a say on the final plan.
“This is Europe’s moment,” she said. “We either all go it alone…or we pave a strong path for our people and for the next generation.”
“The coronavirus has shaken Europe and the world to its core, testing healthcare and welfare systems, our societies and economies and our way of living and working together. To protect lives and livelihoods, repair the Single Market, as well as to build a lasting and prosperous recovery, the European Commission is proposing to harness the full potential of the EU budget. Next Generation EU of €750 billion as well as targeted reinforcements to the long-term EU budget for 2021-2027 will bring the total financial firepower of the EU budget to €1.85 trillion,” she outlined.
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