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On Europe Day, the 27 heads of state and government with a video published on Twitter confirmed that they wanted to get out of the pandemic and the deep recession with a commitment to maximum solidarity. Seventy years ago, Robert Schuman presented the economic cooperation plan that marked the beginning of the process of European integration. And May 9 is the anniversary of the victory against Nazism. Significant dates Chancellor Merkel calls for a stronger Europe after the pandemic. French President Macron asks “to dare, reinvent, unite”. Prime Minister Conte speaks of the necessary “unity of purpose”. But on the specific issue of the use of the Month, he continues on the path of prudence, remembering that Parliament will be involved in any case.
IN DEEP
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President Mattarella also spoke about the role of the European institutions in this very difficult phase, but, of course, he does not elaborate on the details of the political crack that is taking place in Italy regarding the use of the State Savings Fund. “Only more Europe will allow us to face the pandemic more effectively in terms of research, health protection and economic recovery – said the head of state – we would all be more in difficulty if we could not have the necessary exchange network that unites our peoples through common institutions ».” We feel the responsibility to unite to support vigorous response measures to the crisis and its consequences, the measures already decided and those that still need to be taken, “Mattarella concluded.
The evidence to move from appeals to concrete policies is not yet over. And the decision of the German Constitutional Court to put conditions to the work of the BCE could even incur an infringement procedure of the commission, as the president von der Leyen himself hinted. With the final approval of the Eurogroup to the loans of the European Stability Mechanism without macroeconomic conditions and at a negligible cost for the States (almost zero), 240 billion available, of which 36 billion for Italy if it decides to take advantage of it, only were achieved . An important step. While the Community’s decisions follow one another to further expand the flexibility of state aid rules for businesses, the latest on public recapitalization for companies not in difficulty at the end of 2019, the biggest obstacle remains on the table: Recovery Fund. It is the new European fund for the recovery of the economy combined with the EU budgets for 2021-2027, which could add at least one billion euros on the basis of a European bond issue by the Commission and state guarantees.
Negotiation is still ongoing. The Commission proposal is expected in ten days. A kind of last leg that looks like an obstacle course because all positions and rigidities never reappear, with the Netherlands, Denmark, Sweden and Austria resisting significantly increasing the overall volume of the EU budget +Recovery Fund. They tend to limit the volume of special bond issues for Europe’s new financial vehicle for growth. The same overall financial dimensions are unclear: they range from $ 700 to $ 1.5 billion. A French proposal indicates emissions of 150-300 billion over three years, making a total of 450-900 billion. The President of Parliament, Sassoli, talks about the “second semester” for the EU: “With the Month we are at 820 billion euros of resources made available to the States, if we add the 870 billion from the ECB in the purchase of securities We are talking about 1,670 billion who are already there today. Now let’s focus on the reconstruction plan and the budget.
Last update: 01:21
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