Judith Vorbach on the NextGenerationEU funding Strategy
Next Generation EU borrowing and debt management has to be based on democratic control, legitimacy and transparency.
The EESC supported Next Generation EU from its very beginning. In the upcoming years, about €800 billion will be injected into the EU economy in the form of grants and loans. The Commission will borrow through funding operations on international capital markets.
What supervisory role should EU institutions have?
Given the complexity and the potential risks, in our opinion we welcome that the Commission increases its respective resources and competences, and we stress also that it is important that the Commission manages the funding strategy on its own and not to outsource it. But, even more, we demand to establish a Next Generation EU funding advisory board. The competent representatives of the Commission, on the one side, should meet with selected representatives from the EU Parliament, from the Council, from social partners and from civil society to enhance democratic consultation.
How can civil society benefit from NextGenerationEU funding?
Sustainable funding, solid risk management and low borrowing costs are in the very interest of the public, respectively, of the civil society, and, you can also say, of taxpayers. I think it is a really important step forward towards the integration of the European Union that we borrow together such high funds, and these funds are also decisive for the future of the European Union.