On 26 May, the European Commission presented a proposal for an ambitious economic recovery plan from the current COVID-19 crisis. The strategy clearly identifies the European Green Deal as the EU’s recovery strategy. The plan proposes a two-fold approach with the following components:
- A reinforced Multiannual Financial Framework (MFF) for 2021-2027 to equip the EU with a long-term budget to drive the green and digital transitions and build a fairer and more resilient economy (here).
- ‘Next Generation EU’, anew recovery instrument of €750 bn to boost the EU budget with new financing raised on the financial markets for 2021-2024 (here).