The European Commission has announced its intention to launch a unique Recovery Plan in the history of the EU. This plan is already part of an unprecedented effort by the EU and Member States to support the economy. With the activation of the general safeguard clause of the Stability and Growth Pact in March and with the €500 billion coronavirus relief plan decided on April 9, more than EUR 3 trillion have already been invested to support the European economy. However, with this Recovery Plan, the Commission wishes to move to another level.
On 16 April, the President of the Commission Ursula von der Leyen, presented the basis of this “Marshall Plan” to the European Parliament. She called for innovative instruments to be introduced in the MFF in order to unlock massive investments of up to EUR 1 trillion. This new “Marshall Plan” will double the ambition of the sustainable investments foreseen by the Green Deal and the European Digital Agenda. Investments will be concentrated in particular in the technology and digital sector, in energy and in R&D. In addition, the Commission promises to invest massively in transport and in the agri-food sector.
In conclusion, the new “Marshall Plan” is set to at least double the EU’s ambition in terms of investment compared to the initial ambitions of the Green Deal and the Digital Agenda. Massive financing opportunities will start in the coming months. In view of these huge opportunities, it is crucial for all European economic actors to strengthen their presence in Brussels in order to make the most of this unprecedented EUR 1 trillion investment “Marshal Plan”.