CONT Opinion on the Recovery and Resilience Facility (RRF)

CONT

Image with a Covid tissue mask, placed on a EU flag — EU activities to combat the Corona outbreak © Image used under the license from Adobe Stock

The outbreak of the COVID-19 pandemic has changed the economic outlook for the years to come in the Union. The short-term impact in each Member State will depend on the duration and severity of the lockdown measures, the composition of output and the economic policy measures taken to cushion the immediate impact of the crisis. The risk of a distortion of the level playing field of the Single Market can lead to increasing economic divergences in the EU in the absence of decisive policy action.

The Recovery and Resilience Facility (RRF) is a unique instrument to address this unprecedented shock to the EU caused by the COVID-19 pandemic. For EU citizens it provides tangible proof that the EU shows solidarity with those most affected by the pandemic and works for a better and stronger future. The current proposal however falls short as regards the protection of the EU's financial interests, which might lead to an erosion of trust by EU citizens. The proposals of the Budgetary Control Committee aim to remedy these shortcomings by making reference to the importance of the rule of law, by addressing the issue of irregularities and fraud and by putting more emphasis on sound financial management.

BUDG and ECON Rapporteurs under the Joint committee procedure (Rule 58 of the Rules of Procedure)
GARDIAZABAL RUBIAL Eider (S&D)
MUREŞAN Siegfried (EPP)
PÎSLARU Dragoș (Renew Europe)