EU leaders working to advance COVID-19 crisis recovery plan

In their fourth video meeting on Thursday 23 April, the members of the European Council discussed the EU’s coordinated coronavirus exit strategy and a comprehensive economic recovery plan. The objectives are to combat the negative effects of the coronavirus pandemic, safeguard the wellbeing of all Europeans and boost the strong, sustainable and inclusive growth of the EU.

Finland has taken an open and constructive view on the discussion on preparing a recovery plan, one of the key elements of which would be a new, temporary economic recovery fund. Financial resources to support recovery are also being sought through the new EU multiannual financial framework. The Commission is proposing amendments to the previous proposal for the financial framework, which is the EU’s long-term budget for 2021–2027. The European Council instructed the Commission to continue its work on preparing a specified proposal for the financial framework and the recovery fund.

“The financial resources in the recovery fund should be targeted at economic stimulus and regeneration measures in the best possible way. For example, investing in green growth, digitalisation and research and innovation would improve Europe’s competitiveness and create new jobs,” said Prime Minister Sanna Marin.

The leaders of the EU countries also discussed the report approved by the extended Eurogroup on 9 April with regard to the European Stability Mechanism (ESM), the European Investment Bank and the Commission’s unconditional SURE labour market support instrument. The EU leaders consider it important for the preparatory work on these instruments to progress rapidly and be made available by the beginning of June.

Inquiries: Jari Luoto, State Under-Secretary for European Affairs, tel. +358 50 468 5949, Matti Niemi, Special Adviser (EU Affairs), tel. +358 45 679 1717 and Anne Sjöholm, Head of Communications for EU Affairs, tel. +358 40 537 0733, Prime Minister’s Office