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Germany, France, Italy, Spain push for implementation of recovery fund

Finance ministers of Germany, France, Italy, and Spain urged member states on Wednesday (28 April) to submit their recovery plans and pressed the European Commission to speed up the assessment of the investment and reform proposals.  Ministers Olaf Scholz (Germany), Bruno Le Maire (France), Daniele Franco (Italy) and Nadia Calviño (Spain) said in a joint declaration on Wednesday that the four largest European economies will submit their recovery plans this week. By Thursday evening, the Commission confirmed the submission of the Portuguese, Greek, and German final drafts. The EU executive expected to receive a dozen of plans by midnight on Friday.

Hungarian MEP raises questions over his country s National Recovery and Resilience Plan

Hungarian MEP raises questions over his country s National Recovery and Resilience Plan
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President von der Leyen welcomes the first official submission of a recovery and resilience plan by Portugal | EU Commission Press

President von der Leyen welcomes the first official submission of a recovery and resilience plan by Portugal | EU Commission Press
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President Ursula von der Leyen welcomes the first official submission of a recovery and resilience plan by Portugal

President Ursula “ Across Europe, we can see vaccination campaigns accelerating. In parallel, it is now all the more important to launch NextGenerationEU. Economic recovery must go hand in hand with an improved health situation on the ground. I welcome Portugal‘s recovery and resilience plan as the first one officially submitted to the Commission. The submission marks the beginning of a new phase in the process of implementing the Recovery and Resilience Facility. The Commission looks forward to assessing the Portuguese plan, which focuses on resilience, climate and digital transitions and includes projects in almost all of the European flagship areas. We will continue to engage intensively with Member States to help them deliver high quality plans. Our goal remains to adopt all plans by the summer. For the first payments to be made, we need all Member States to have approved the Own Resources Decision. I am confident that all will be in place by the summer.”

Funding strategy for NextGenerationEU — EUbusiness com | EU news, business and politics

by eub2 last modified 15 April 2021 The European took steps on 14 April to ensure that borrowing under the temporary recovery instrument NextGenerationEU will be financed on the most advantageous terms for EU Member States and their citizens. Advertisement What did the Commission decide on 14 April 2021 and why is it important? NextGenerationEU – at the heart of the EU s response to the coronavirus pandemic – will be funded by borrowing on the capital markets. We will raise up to around €800 billion between now and end 2026. This would translate into borrowing volumes of on average roughly €150 billion per year, which will make the EU one of the largest issuers

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