Economic issues on agenda at meeting of Ministerial Committee on EU Affairs

At its meeting on Thursday 23 April, the Ministerial Committee on European Union Affairs discussed the economic measures related to the COVID-19 crisis and the proposal for an EU-wide industrial policy package.

The theme of the videoconference of European Council members to be held on Thursday evening will be a roadmap for restoring the normal functioning of society and the economy following the COVID-19 crisis. President of the European Council Charles Michel and President of the Commission Ursula von der Leyen will present a plan for the coordinated lifting of the containment measures and a recovery plan to support the restoration of the economy and the transition to normal operations. The main elements of the recovery plan are the new potential economic recovery fund and the next multiannual financial framework. Finland has a constructive view on establishing the EU recovery fund and is open to further work to establish it. The Commission will prepare a proposal for the recovery fund, taking into account the discussion of the EU leaders on Thursday. The Commission will also propose changes to the next multiannual financial framework in the near future.

“Close coordination in the European Union is very important as we find our way out of the COVID-19 pandemic. Finland has an open and constructive view when it comes to discussing the new recovery fund, for example. It is important to emphasise our political readiness for the necessary measures while highlighting the unity of the EU,” said Prime Minister Sanna Marin.

In their videoconference, the leaders of the EU countries will also discuss the report of the extended Eurogroup from 9 April and confirm the principles agreed in it with regard to the European Stability Mechanism (ESM), the European Investment Bank and the Commission’s unconditional SURE labour market support instrument. The measures initially agreed by the extended Eurogroup are central to alleviating the economic impact of the COVID-19 crisis on states, businesses and the labour force alike. Finland is participating actively in the further preparations.

The Ministerial Committee also discussed Finland’s position on the industrial policy package adopted by the European Commission in March, which consists of an industrial policy strategy, a strategy for SMEs and a section on the implementation of and obstacles to the single market. Industrial policy plays a key role in the EU’s recovery from the COVID-19 crisis and in its ability to seek new growth. In Finland’s view, the EU must place particular emphasis on supporting sustainable growth and renewal through innovation, new technologies and digitalisation.

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, Kare Halonen, State Secretary for EU Affairs, tel. +358 295 160 319, Anne Sjöholm, Head of Communications for EU Affairs, tel. +358 40 537 0733, Prime Minister’s Office