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This overview provides a summary of the latest state of play on the implementation of the Recovery and Resilience Plans (RRPs). It focuses on the latest European Commissions’ preliminary assessments of payment request from Austria and Luxembourg; the Commission attested that all related milestones and targets were satisfactorily fulfilled. It also provides some information available in the public domain regarding Italy’s upcoming payment request.

Initially, Hungary's share of the total financial envelope of the Recovery and Resilience Facility (RRF) was €16 830 million, of which €7 176 million was for grants and €9 663 million loans (the latter being available until August 2023). Hungary has requested the full estimated amount of grants available, but not any loans. Taking into account Hungary's updated data on its gross domestic product (GDP) for 2020-2021 and according to the revision applied in June 2022 to all EU Member States, the Hungarian ...

Executive Vice-President Dombrovskis and Commissioner Gentiloni have been invited to the tenth Recovery and Resilience Dialogue (RRD) under the Recovery and Resilience Facility (RRF) Regulation. Section 1 cover some recent developments relating to the implementation of RRF, such as the European Commission’s Communication of February, and the entry of force of the RePowerEU legislative framework. Section 2 focuses on the positive assessments by the Commission of the payment requests made by six EU ...

This note provides an overview of the implementation of the 2022 recommendation on the economic policies of the euro area proposed by the Commission and agreed by the Council. It makes use of public information and proxies such as on how the Eurogroup has integrated euro area recommendations’ concerns in their “thematic discussions” and work programmes. This note will be updated in light of relevant developments.

This note looks at the 2023 recommendation on the economic policies of the euro area proposed by the Commission and agreed by the Council. The note provides a review of the euro area recommendations from an institutional perspective and includes broad comparisons to earlier recommendations, in order to illustrate how policy concerns have evolved over time. This note is an update on a previous version and will be updated in light of relevant developments.

Quantitative tightening in homeopathic doses

Indgående analyse 15-03-2023

The ECB is now planning to run down its vast bond holdings acquired under the asset purchase programme ----- a ‘‘quantitative tightening’’. However, the ECB is not contemplating selling any bonds, only not reinvesting part of what is coming due. Under this approach, the continuing expansionary effect of keeping vast holdings remains large and is likely to complicate the fight against inflation. The ECB currently has two, fungible, policy instruments (policy rates and balance sheet operations), which ...

This study documents the poor track record of implementation of the European Semester country-specific recommendations and discusses the novelties the Recovery and Resilience Facility (RRF) could bring to EU economic governance. While it is too early to evaluate the success of the RRF, this study draws out lessons for the future of the EU economic governance framework from certain aspects of the RRF design and the European Commission’s evaluation of the national recovery and resilience plans. This ...

This paper provides a graphic overview on core legislation in the area of the Internal Market and Consumer Protection. The presentation essentially covers the areas within the responsibility of the Committee on Internal Market and Consumer Protection, but also displays neighbouring areas of other Committees' competences which are closely connected to and impacting on IMCO's work. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies and the Secretariat ...

This paper summarises the findings and provides some further details of the replies received from a survey on the involvement of national parliaments in scrutinising the implementation of Recovery and Resilience Facility, notably the Recovery and Resilience Plans at the national level. This survey aimed to keep stock of whether and how EU national parliaments are involved in the implementation of the RRF. It was addressed directly to EU national parliament services and reflected developments in the ...

Plenary round-up - March I 2022

Oversigt 11-03-2022

As the March I 2022 plenary session in Strasbourg took place just two weeks after Russia launched its war on Ukraine, security and economic issues were high on the agenda. Members held a debate with Kaja Kallas, Prime Minister of Estonia, on the EU's role in a changing world and the security situation in Europe, and debated Council and Commission statements on the deterioration of the situation of refugees fleeing Ukraine. Celebrating International Women's Day, Members heard an address by Ukrainian ...