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National recovery and resilience plans

By Social Europe

National recovery and resilience plans
  • Publisher: Social Europe & Hans Böckler Stiftung
  • Published: 14th June 2022
Free PDF download

Dossier description

When the pandemic hit in the spring of 2020, not only were individual European Union member states quick to react but the EU as a whole swiftly changed gear. Fiscal and state-aid rules were suspended, the European Central Bank launched an emergency bond-buying scheme, the SURE programme was initiated to refinance national short-time-working schemes and the European Stability Mechanism was expanded.

But it was clear that this was not enough to undergird recovery and that a medium-term support programme was needed. National capitals were anxious not to repeat the ‘blame game’ of the eurozone crisis of the early 2010s and to reduce over-reliance on the ECB, which had taken most of the policy strain after 2012 (with the open-ended, ‘whatever it takes’ commitment by its then president, Mario Draghi).

Helped by some favourable political changes—not least a change at the German finance ministry—and the perception of the coronavirus as a common shock, in July 2020 policy-makers launched NextGenerationEU. It was a blueprint for a recovery, rather than an austerity programme. Its cornerstone, the Recovery and Resilience Facility (RRF), was subsequently agreed—after difficult negotiations and hold-ups, not least because of rule-of-law issues in Poland and Hungary—by the end of 2020.

The articles in this series supported by the Hans Böckler Stiftung, now collected in a dossier, have looked at different aspects of the RRF, including its funding, the substantive contribution of national recovery plans and the political processes behind their formulation.

Authors: Claudio Baccianti, Jonathan Barth, Péter Bucsky, Rebecca Christie, Grégory Claeys, Lydia Corinek, Elizabeth Dirth, Jakob Hafele, Hartmut Hirsch-Kreinsen, Michaela Holl, Mario Holzner, Christiny Miller, Margit Schratzenstaller-Altzinger, Imre Szabó, Bart Vanhercke, Amy Verdun, Andrew Watt, Katharina Weber, Pauline Weil and Maximilian Zangl.

 


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