Michel described the effort as “an intra-European plan that must mobilize EU capital within the European budget; which have to mobilize national funds and which should also mobilize the private sector, “added:” We have to use all instruments. “
The heads of state and government are expected to ask the European Commission on Thursday to draw up a new economic recovery plan.
In a draft statement prepared before the heads of state and government discussion and seen by POLITICO, officials wrote that the block needed “an exit strategy, a comprehensive recovery plan, and unprecedented investment” for the coronavirus crisis, and “the Commission would invite to start work on a proposal for a recovery roadmap accompanied by an action plan. “
Michel said: “We shouldn’t expect a sprint, this crisis will affect us in the short, medium and long term.”
Before the virus struck Europe, the presidency focused on negotiating a deal when negotiating the 2021-2027 bloc budget.
“I think the crisis we are going through is having an impact on the EU budget negotiations,” said Michel, adding that the budget should be based on the “lessons” of the crisis and in particular on the ability to “maintain solidarity and having “budget” is a real tool to support our recovery plan priorities. “
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