The project would allow a new pooling of the European funds to cope with the economic backlaps of the war in Ukraine, but also to defense expenses.
by
After the stimulus plan, the European resilience plan against Russia of Vladimir Putin. According to our information, discussions are initiated within the twenty-seven to set up as soon as possible a new mutualization fund that could absorb the shock of the war led by the Kremlin in Ukraine. An announcement in this direction could even be done at the informal European summit organized at the instigation of Emmanuel Macron, Thursday 10 and Friday, March 11, at Versailles.
The Head of State continues, as in his televised intervention on Wednesday, to call Europe to change in order to “become a power, more independent, more sovereign”. The accelerated emergence of a community resilience plan – the name is not yet arrested – in this logic, after the twenty-seven have broken a first taboo since the beginning of hostilities, deciding to finance together Lethal weapons delivered to Ukraine.
Emmanuel Macron should address the issue Sunday, March 6, during an interview with the President of the European Council, Charles Michel, from Passage to Paris to stall the summit of Heads of State and Government. In Brussels, Ursula von der Leyen and the Commission launched preparatory work. The Head of State also spoke of the subject with the German Chancellor, Olaf Scholz, Friday, on the sidelines of appeals after the brutal takeover by the Russian army of the Zaporijia nuclear power plant in Southern Ukraine. Angela Merkel’s former Social Democratic Minister Merkel had played a crucial role in 2020 to build the stimulus plan to support the countries most affected by the pandemic. The debate had at the time last months, and raised an arm of iron with the “frugal” countries, the Netherlands in the lead.
This device, with 750 billion euros, was a great first in Europe, since it is financed by the issuance of a common debt. The recovery plan is being spent in countries whose projects have been validated by Brussels. In the short term, some of these funds can be reoriented to amortize the consequences of the war in Ukraine.
Diversify energy sources
But the magnitude of the Russian offensive risks obligeing the twenty-seven to go further. The resilience plan should also be funded by a European debt issue, in order to equip it with a strong financial capacity – even if no encryption is yet advanced. “It’s about reacting very quickly to the economic consequences of the conflict,” say two French sources close to the file.
You have 61.01% of this article to read. The rest is reserved for subscribers.