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EU: Video from European Parliament to explain budget and Next Generation EU

2021 marks the beginning of the EU’s new seven-year €1.074 trillion budget, a “historic budget” in the words of EP President David Sassoli. On top of that, an additional €750 billion are available (under the Next Generation EU recovery plan) to help Europe out of the COVID-19 crisis, by making it “greener, more digital and more resilient”. The recovery, a video from the European Parliament explains, will be sustainable, in that the funds distributed among the Member States will foster the green transition, create digital opportunities, and bolster healthcare systems. The aim is to relaunch the economy by creating new jobs and safeguarding workers, as well as small and medium-sized businesses and tourism, that are being badly damaged by the crisis. Fostering innovation will be key in the process. The Portuguese Presidency of the EU, which began on 1 January, is moving at the same pace. “Time to deliver: a fair, green and digital recovery” is the motto chosen by the Portuguese Presidency for the semester.

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