How Europe Says RecoveryIN THE SECOND EPISODE OF WORDS OF EUROPE, ROSALBA FAMA' TACKLES NEXT GENERATION EU
In the second episode of Words of Europe, Rosalba Famà, PhD student in EU Law at Bocconi, explains what measures were taken by the European Council and the European Commission to provide a much-needed stimulus for those European economies most heavily hit by the Covid-19 pandemic. These initiatives, known under the names “Recovery Plan” and “Next Generation EU,” are unprecedented in several respects, and mark a significant shift in European policymaking.
For the first time in European history, such a huge amount of money is being borrowed on the financial market on behalf of the Union to be allocated to various EU countries as loans and/or subsidies.
Next Generation EU consists of some €750 billion to be repaid, when applicable, over the next 30 years. This money will be used to finance green and digital objectives. As we see in this talk, there were tough legal hurdles to clear but the way is now open for a more co-operating Union.
By presenting some of the features of the EU in a simple way, Words of Europe seeks to give even those who do not have a specific legal or economic background the tools to actively take part in the discussion of opinions.
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by Andrea Costa