EU Green Recovery plan

In light of the unprecedented economic crisis caused by the Covid-19 pandemic, the European Commission presented the outline of a highly ambitious plan entitled, Next Generation EU, to help finance recovery across the EU in May, notably introducing its plans for a € 750 billion recovery fund. Beyond a simple plan for fiscal recovery, EC President Ursula von der Leyen underlined the importance to use the current circumstances to accelerate the green and digital transitions, and to ensure EU recovery funding ensures a level playing field in the Single Market in light of diverging Member States financial capabilities in this regard. The EU aims to strike a balance between being open for global trade and protecting key sectors and companies.