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Parliamentary questions
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6 November 2020
Question for written answer  E-006053/2020
to the Commission
Rule 138
Piernicola Pedicini (NI), Ignazio Corrao (NI)
 Answer in writing 
 Subject: SURE loan agreement transparency policy

The socio-economic crisis caused by the COVID-19 pandemic generated a prompt response from the EU. By creating Next Generation Europe, SURE (temporary Support to mitigate Unemployment Risks in an Emergency) and the Recovery and Resilience Facility, the EU has taken a new macro-economic approach in tackling the crisis.

By using social bonds to fund SURE, the EU has entered the debt market for the first time. Its first bond of EUR 17 billion euro received an exceptional market response, generating positive pricing results.

This provided the Member States with more advantageous ways to borrow money. However, the loan agreement signed between the Commission and the Member States requesting support and regulating the terms of disbursement is the only document that has been kept secret during the entire process.

Full transparency in the management of a new instrument is essential to creating trust. We would therefore like to ask the Commission the following questions:

1. If the terms on which the Commission borrows are public and the pricing details have been published promptly, why has the loan agreement between the EU and Italy been kept secret?

2. What are the reasons for such a protocol and the terms of transparency adopted for SURE loans?

3. What will be the protocols concerning the funds dispersed through Next Generation Europe and the Recovery and Resilience Facility instrument?


(1)This question is supported by a Member other than the authors: Eleonora Evi (NI)
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