|Author (Corporate)||European Commission: Secretariat General|
|Series Details||COM (2020) 456|
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.
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.
|Subject Categories||Economic and Financial Affairs, Internal Markets, Politics and International Relations|
|Subject Tags||Challenges facing the European Union [EU], EU Budget, Multiannual Financial Framework [MFF]|
|Keywords||COVID-19 (Coronavirus), MFF 2021-2027
|International Organisations||European Union [EU]|