EU leaders agreement is oxygen for Europe’s economic recovery

Today’s agreement reached by the European Council and all EU Member States on the long-term EU budget (MFF 2021-2027) and the Next Generation EU recovery fund is a major step forward to support our economy during an unprecedented crisis and to avoid further delays when implementing the EU recovery plan across the EU as a whole.

BusinessEurope President Pierre Gattaz said: "The EU leaders agreement is oxygen for Europe’s economic recovery. The endorsement by the European Council of the solution proposed on the Next Generation EU recovery fund as well as the long-term EU budget is a big relief. We urge the European Parliament now to back this deal to ensure that the recovery package can be swiftly implemented across the European Union as a whole and that focus can now shift to making sure that recovery plans are well designed, and money is well spent."

Commenting on the European Council’s endorsement of a binding EU target of a net reduction of 55% greenhouse gas emissions by 2030 compared to 1990, BusinessEurope Director General Markus J. Beyrer added: "European business supports the goal of reaching climate neutrality by around mid-century and the Green Deal. The EU must now focus on HOW to deliver our climate ambitions without undermining the economic recovery, and policy makers must consider that the new climate target for 2030 will be implemented during an unprecedented crisis. We urgently need a strong EU industrial strategy to underpin the Green Deal. And the European Commission must take into account competitiveness requirements when shaping the different climate policy proposals to be presented in 2021."