Read More: EU Recovery Strategy
Posted: May 27, 2020
On May 27, 2020, the European Commission (EC) announced its long-term recovery strategy, which will guide and support EU member states as they recover from the impacts of the pandemic. The EC proposes a new recovery instrument, Next Generation EU, of EUR 750 billion, which will be added to the multiannual (2021–2027) EU budget. The fundamental policy framework for the recovery is a combination of the EU Green Deal, a strengthening of the EU Single Market and adaptation to the digital age, and an inclusive recovery that includes a short-term European Unemployment Reinsurance Scheme (SURE), a skills and digital education agenda, minimum wages and pay transparency measures, and stepping up against tax evasion.
The EU Green Deal is the roadmap to a resilient, carbon-neutral EU by 2050. It is a strategic package of policy measures that are currently being shaped by EU member states and the European Parliament. The Green Deal is cross-cutting and impacts many economic sectors and industries, such as agriculture, energy, and infrastructure. It also includes an investment plan and a just transition mechanism.