The agreement reached Thursday evening on 9 April by the Eurogroup on a set of financial measures to support EU member states in the fight against COVID 19 and its immense economic and social impact – and particularly the agreement on a new “recovery Fund” to support European economy and cohesion among member states and citizens – marks a welcome turn in the response of the European Union to the crisis, after many weeks of dis-alignment among member states. We welcome that those member states most reluctant towards European solidarity tools have moved their position and made a deal possible.

Sandro GOZI, President of the Union of European Federalists and Member of the European Parliament, declared: “The framework of the deal is positive. I believe that  the most important decision is the creation of the new “recovery Fund” to help European economy rebound from the economic impact of COVID as fast as possible, even if the key features of the Fund are still undefined.  EU leaders next week can take a bold decision and make the Fund a really transformative instrument for the future of the European Union, if they decide that the Fund can finance itself in the market issuing “recovery bonds”, guaranteed by the European Union itself, if necessary together with member states. That said, the Eurogroup should have reached a deal much earlier and without the display of disunity of the past weeks, which was not positive for the European Union’s image among European citizens. It is just the last evidence of the flaws of the Eurogroup, an inefficient and intransparent body, with a great power that should be moved to the proper institutions of the European Union”.

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