1/ So what to make of the EU recovery budget, having now had some time to look at (some!) of the documents? Here is collection of non-exhaustive, random and personal thoughts.

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2/ On the ambition (1): this is where the package shines brightest. No more promises of multiplying financial wizardry, no more rebadging or funds reallocation. This is a bold and new approach: the Commission borrows to reinvest funding through its programmes. Mostly via grants.

3/ On the ambition (2): the proposal is different as it looks at the long-term. Good to see a confirmation that the EU should support its strategic sectors, also via the Strategic Investment Facility. And a genuine attempt at equipping the EU to deal with future crisis (pillar3).

4/ On its realism (1): the proposal is cleverly crafted developed with political realism in mind. It builds on the last #EUCO negotiating box and could keep Cohesion Countries at bay with the Cohesion Policy top-up, despite ERDF/ESF cuts compared to original EC proposal.

5/ On its realism (2): it also ensures that financing through the Recovery and Resilience Facility comes with strings attached (rule of law, links to long-term EU objectives and of course the European Semester).

This should please the Frugal Four countries.

6/ On the European Semester: its ever strengthening role at the heart of EU action on investment & recovery calls for a fresh debate on governance to guarantee meaningful involvement of regions in the dialogue between Member States and the Commission.

7/ On REACT-EU (1): providing extra funding to regions most hit by the crisis through #cohesionpolicy has to be applauded.

The Just Transition Fund delivery through #cohesionpolicy had started the trend to put the policy at highest level of the EU agenda. REACT-EU confirms it.

8/ On REACT-EU (2): having said so, this calls into question the role of Cohesion policy. Should it address short term, long term objectives, or a mixture of both?

9/ On REACT-EU (3): it is worth pointing out that the financial allocations of REACT-EU are calculated on the basis of national data (with an exception for outermost regions).

Member States are in the driving seat when it comes to the implementation of the extra funding.

10/ Will it go through? Getting a deal by the July #EUCO summit is critical. Parliament will need time to look at the proposal, and there are negotiations on the (revised) fund-specific regulations/REACT-EU. It’s a big ask. The ball is clearly in the camp of the Member States.

11/ Watch this space for exhaustive analysis by @CPMR_Europe (w @eugenialleal @fmolica) !

Comments welcome:
@SapalaMagdalena
@eulaliarubio
@ggbenedetto
@Marta_Pilati22
@MargitSchratz
@liliebayer
@gregclaeys
@jnunez_ferrer

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