The European Commission’s proposed 750 billion euro ($853.35 billion) coronavirus recovery fund for EU member states implies an unexpectedly generous package for countries in central and eastern Europe that could significantly benefit their economies.
The CEE region accounts for around 11% of the 27-member European Union’s gross domestic product but has been provisionally allocated 187 billion euros, or 25%, of the ‘Next Generation EU’ plan’s money.
The recovery fund proposal is currently split between 500 billion euros of loans and 250 billion of ‘grants’. The money is intended for projects spanning 2021-2024, though absorption could be allowed to leak into 2025-2026 as well. That has rankled with Hungary’s Prime Minister Viktor Orban, whose criticisms of Brussels and clampdowns on academics, media freedom and civil society have long been a thorn in the EU’s side.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
European stocks seen slightly higher as EU leaders meet for stimulus talksEuropean stocks are set for a cautiously higher open Friday as European Union leaders prepare to discuss a deal on the bloc's key coronavirus recovery package, while U.S. coronavirus cases continue to soar.
Weiterlesen »
European shares flat ahead of EU summit, Ericsson soars after earningsEuropean shares were little changed on Friday, with stocks trading in a narrow range as focus turned to Brussels where European Union leaders are expected to hammer out details of a 750-billion-euro recovery fund.
Weiterlesen »
EU top court rejects EU-U.S. data transfer tool, backs another toolEurope's top court on Thursday rejected a key EU tool used to transfer Europeans' personal data across the Atlantic for commercial use but upheld the validity of another tool used by hundreds of thousands of companies to transfer data worldwide.
Weiterlesen »
Top EU court says a data-sharing pact with the US is invalidThe ruling could impact how companies transfer European users' data to the United States and other countries, such as the U.K.
Weiterlesen »
North Macedonia's pro-EU SDSM take narrow lead in parliamentary voteNorth Macedonia's Social Democrats narrowly lead centre-right opposition over nationalist rivals, official election results show
Weiterlesen »
EU virus economic rescue summit beginsLeaders are under pressure to find a compromise over the $2.1 trillion budget proposal, which includes an $825-billion new recovery instrument to help relaunch the European economy after the pandemic.
Weiterlesen »