Last month, the European Commission released its plans for a three pillar EU Next Generation recovery package that aims to support and boost the EU economy in the coming years. The package supports EU Member States so that they can recover from the COVID-19 outbreak, kick-start their economies and also learn from this crisis.

ALDE Party President Hans van Baalen reacted to the European Commission’s EU Next Generation package last week, saying that the economic recovery plans are a sign of solidarity but the resulting debt accumulation needs to considered as well. “Free money doesn’t exist”, President van Baalen reminds.

The Multiannual Financial Framework will be discussed by July between EU Heads of State, before passed on to the European Parliament for consultation by summer 2020.

More information on the recovery plan here

I support economic recovery plans in solidarity with all hard hit #EU regions. But stimulus programmes of EC, ECB, EIB, EBRD, ESM, EUSF & national gov added up will create € trillions debt which has to be repaid. Prudency to avoid hyperinflation is key. Free money doesn’t exist! https://t.co/4lOnbmlUAq

— Hans van Baalen (@hansvanbaalen) June 7, 2020