Five months ago, in last July, the European Council agreed on a 1 825 billion euros recovery plan to face the Covid-19 pandemic, adding to the multiannual financial framework (MFF) of 1 075 billion euros, the Next Generation EU recovery plan, a new instrument and key step forward for the EU. Since then however, the approval of the plan has been blocked by the on-going debates with Hungary & Poland.
The EU recovery plan incorporates a major new feature: the European Commission will now issue debt instruments directly on the market in order to finance the Next generation plan.
This study brings a must-needed update on the state of the Recovery Plan, before the European Summit happening today and tomorrow.
By Sophie Javary, Vice Chairman CIB EMEA at BNP Paribas,
With the help of Antoine Latran, Project Manager at EuropaNova