Today, the European Parliament has just adopted a resolution on the economic recovery plan following the Covid19 pandemic, which puts the Green Deal at its core. The European Parliament is proposing a socio-economic recovery and transformation plan backed by the MFF amounting to €2 trillion, of which at least €1 trillion would be in the form of grants financed through a common loan guaranteed by the EU budget. At the last European Council summit European leaders were unable to reach an agreement and instructed the European Commission to make a proposal for the recovery plan that would come under the framework of the EU's multi-annual budget (MFF).
The European Parliament vote calls for MEPs to be fully involved in defining the recovery plan. For the European Parliament, the Green Deal and the digital economy are the driving force behind future investments, which must be conditional on compliance with our commitments on climate protection, biodiversity, sustainable development and fiscal justice.
Philippe Lamberts MEP, President of the Greens/EFA group in the European Parliament, comments:
"The European Parliament is calling on the Commission to come out with a plan that has the necessary scope to restart our economy and lays the foundations for its transformation into a sustainable model in line with the Green Deal.
"Our group welcomes the support of the majority in Parliament for investments that will enable us to achieve our climate objectives, protect biodiversity and remedy economic and social inequalities at the same time. Parliament's proposals have the merit of not burdening the Member States by increasing their debt, since part of the EU's Recovery and Transformation Fund would be financed by a long-term joint loan funded through an increase in the Union's own resources."
Ska Keller MEP, President of the Greens/EFA group in the European Parliament, comments:
"The European Parliament is sending a strong signal to the European Commission and European governments. The Green deal and digitalisation should be the driving force and stimulus package for the economic recovery. At a time when the European project is being called into question, this proposal is an effective response to this unprecedented crisis but also a giant leap for European unity, which was unthinkable until a few weeks ago.
"We can only urge the European Commission to defend this proposal in front of the Member States so that the Multiannual Financial Framework can be quickly adopted, which, let us remember, requires the approval of the European Parliament. The Parliament must be fully involved in the design of the recovery plan, the directly elected representatives of European citizens cannot be side-lined on this crucial issue."
The European Commission's reconstruction plan is expected on May 20th. The Greens/EFA group presented its plan for sustainable, robust and equitable economic reconstruction on April 28th.
It calls for a continuous increase in the EU's 'own resources' through the introduction of environmental, corporate and financial taxes. These new revenues, which are intended to feed directly into the EU budget, would not only prevent the Member States from going further into debt, but would also make it possible to overcome the issues around national contributions.