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EU Commission: Ms von der Leyen’s programme, “flexibility within Stability Pact to support economic growth

(Brussels) “I want to reduce CO2 emissions by at least 50% by 2030”. The candidate for President of the European Commission, Ursula von der Leyen, wrote this in her letter to the S&D Group, which outlines the programme of her future presidency. Other key elements in Ms von der Leyen’s programme are a EU leading in “international negotiations” and a “comprehensive plan” based on “social, economic and environmental impact assessments” which can stimulate “innovation, competitiveness and jobs”. An emissions trading system and a carbon tax will be the pillars of this programme, while the establishment of a “Just Transition Fund” will guarantee that “we will leave no one behind”.  With regard to private investment, the candidate for President spoke of a “Sustainable Europe Investment Plan” and of turning “parts of the European Investment Bank in a climate bank”. The wellbeing of the EU is another key point in Ms von der Leyen’s programme. “I will use the full flexibility within the Stability and Growth Pact for a more growth friendly fiscal stance” while also “safeguarding fiscal responsibility”. Other key points are the creation of a “Budgetary Instrument for Convergence and Competitiveness for the euro area”, the completion of the Banking Union, and a “European Deposit Insurance Scheme” to protect the most vulnerable.

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