Europe’s moment: Repair and Prepare for the Next Generation

Author (Corporate)
Series Details COM (2020) 456
Publication Date 27/05/2020
Content Type


Communication published by the European Commission on 27 May 2020, setting out its overall longer-term plan for recovery across the European Union (EU) in the aftermath of the COVID-19 (coronavirus) pandemic - also known as Europe's Recovery Plan.

Further information:

The European Commission was tasked by the European Council in March 2020 to set out a strategy for the longer-term socioeconomic recovery across the EU following the emergency caused by the virus outbreak. The mandate was further confirmed in April by EU leaders.

While the virus affected all Member States, the impact and the potential for recovery looks very different. While every Member State was able to support its workers and companies as much as possible, not all could do this to the same extent. This has created the risk of an imbalanced recovery, an uneven playing field and widening disparities across the EU. It has also showed the need and value of an EU-wide response.

The recovery plan includes an increase of the ceilings under the Multiannual Financial Framework (MFF) 2014-2020, a proposal for a new recovery instrument called Next Generation EU, embedded within revamped proposals for the Multiannual Financial Framework (MFF) 2021-2027. The European Commission also unveiled an adjusted Work Programme for 2020.

The European Parliament discussed the Commission's plan on the same day as it was announced. The first round of Council negotiations relating to the plan was set for 19 June during a meeting of the European Council. The Council of the European Union (COMPET format) held an exchange of views on 12 June and adopted a Statement.

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Commentary and Analysis
BBC News, 27/05/2020: Coronavirus: Rocky path ahead for European Commission
Bloomberg, 27/05/2020: The European Union Is on the Brink of Historic Change
Politico, 27/05/2020: Ursula von der Leyen’s big gamble with borrowed money
Politico, 27/05/2020: Germany’s Scholz sees recovery fund as more than money
Reuters, 27/05/2020: Key climate spending in EU's 'green recovery' plan
LSE: EUROPP Blog, 28/05/2020: Next Generation EU (NGE): The Commission’s Covid-19 recovery package
RTÉ News, 28/05/2020: How much EU states could get from new Covid recovery scheme
Politico: Brussels Sketch, 28/05/2020: Nothing new under the recovery fund
Politico, 28/05/2020: Recovery fund: Everything depends on what happens next
Deutsche Welle, 28/05/2020: Coronavirus crisis will be paid for by Europe's next generation
The Guardian, 28/05/2020: EU green recovery package sets a marker for the world
EUObserver, 28/05/2020: EU Commission's €1.85trn recovery package - key points
Deutsche Bank: Talking Point, 28/05/2020: The Commission’s recovery plan for Europe – bold and challenging
Euro|topics, May 2020: EU recovery: where the money should be spent
CEPR: VOX Columns, 09/06/2020: Next Generation EU: A recovery plan for Europe
EPRS: Briefing, July 2020: Amended proposal for the 2021-2027 MFF and 2021-2024 recovery instrument 'Next Generation EU' in figures

EurActiv, 27/05/2020: ‘Do no harm’: EU recovery fund has green strings attached
Deutsche Welle, 27/05/2020: European Commission unveils €750 billion recovery plan
Euronews, 27/05/2020: EU announces financial 'firepower' of 1.85 trillion with 750 billion for COVID recovery
RFI News, 27/05/2020: Italy, Spain to be big recipients of EU €750bn Covid-19 recovery fund
Forbes, 27/05/2020: European Union Reveals $826 Billion Economic Stimulus Plan To Battle Coronavirus Damage
EurActiv, 27/05/2020: Defence and security win battle but not war, in EU budget plans
BBC News, 27/05/2020: Coronavirus: Von der Leyen calls €750bn recovery fund 'Europe's moment'
France24, 27/05/2020: EU Commission proposes €750 billion recovery fund in wake of Covid-19 crisis
EUObserver, 27/05/2020: Mix of loans and grants in Commission €750bn package
Politico, 27/05/2020: Sebastian Kurz cautious on Commission’s €750B recovery blueprint
The Guardian, 28/05/2020: EU pledges coronavirus recovery plan will not harm climate goals
Politico, 28/05/2020: Too taxing: Brussels can’t explain plan for big company levy
EurActiv, 28/05/2020: ‘A quantum leap’: German MEPs welcome EU debt for recovery plan
EUObserver, 28/05/2020: EU Commission's green recovery criticised as 'brown'
Politico, 29/05/2020: EU recovery fund plan ‘absurd,’ Orbán says

EUR-LEX: SWD(2020)98: Staff Working Document accompanying the Communication
European Commission: Press Release, 27/05/2020: Europe's moment: Repair and prepare for the next generation
European Commission: Press statement by President von der Leyen on the MFF and the Recovery Instrument (27 May 2020)
European Commission: Speech by President von der Leyen at the European Parliament Plenary on the EU Recovery package (27 May 2020)
European Commission: Questions and Answers on the MFF and Next Generation EU (27 May 2020)
European Parliament: Press Release, 27/05/2020: EU future at stake: MEPs broadly welcome Commission’s recovery package proposals
European Council: Press Release, 27/05/2020: Charles Michel on the recovery fund: “Our citizens and businesses have been heavily impacted by the pandemic. They need targeted relief without delay”
Council of the European Union: Joint statement of ministers responsible for the internal market and industry on the Recovery Plan for Europe, 12 June 2020

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