No time to waste to kick-start the recovery

Ahead of the crucial discussions on the European recovery plan of the members of the European Council via video conference on 19 June 2020, BusinessEurope sent a letter to Presidents Michel, von der Leyen, Sassoli and Prime Minister Plenković.

BusinessEurope President Pierre Gattaz said: "The EU and its member states need to progressively reopen their economies and put in place a coordinated economic response to support business - and SMEs in particular - to recover from the shock of the crisis. It is essential that the members of the European Council come to a rapid agreement on an ambitious and well coordinated European recovery plan to overcome the COVID-19 crisis.

And for us, an ambitious and well coordinated recovery plan means:

• An agreement on the new EU multiannual financial framework and recovery instrument before the summer break because there is no time to waste to kick-start the recovery.
• No new taxes as part of new own resources. A strong European single market is key to a successful recovery strategy and the idea of a new levy on businesses that use the single market is really sending the wrong signal.
• A growth and investment strategy including the green and digital transitions but not limited to these two crucial pillars.
• Linking EU funds to the implementation of country-specific structural reforms agreed in the European Semester."