Following the approvals by individual member states, the Recovery and Resilience Facility plans will now have to be approved by the EU executive. A first package of national plans will receive the green light in the next few days. The national plans approved by the Commission this month are expected to be over ten and pre-financing to Member States should arrive during July. “Europe’s recovery plan will help us build a better future” stated the President of EU Commission Ursula von der Leyen.
The Next Generation EU represents a turning point for the European Union and an unprecedented demonstration of solidarity in the face of the health and economic-social emergency represented by COVID.
However, the disbursement of the funds is bound to the implementation of important structural reforms on which Brussels requires strict guarantees.
What are the implications from a political and economic point of view? How will the Recovery and Resilience Facility shape the future of Europe?