• The proposed Recovery Plan is an unprecedented investment programme, both public and private, aiming at strengthening not only the member states’ domestic economies, but also the economies with which there are significant interconnections.
  • The amounts are particularly significant, but what makes the proposals radical is the origin of these amounts.
  • For the first time the EU is moving away from the principle of net fiscal benefit or loss of each member state.
  • If the projected distribution of the resources of the Recovery and Resilience Facility is calculated as a percentage of the GDP of each country, Greece is the country that is expected to receive the largest percentage of GDP.
  • There has already been a consensus regarding the most radical part of the new proposals. The most important change to be expected is the strengthening of all sorts of conditionalities, as regards both the selection of investments to be funded and the implementation of all decisions. As a result, the role of the Eurogroup and the ECOFIN Council in this monitoring will be intensified.

You may find the Policy brief by Achilleas Mitsos, Special Adviser, ELIAMEP,  Former Director General European Commission here (in Greek).