EU: 10 steps to economic recovery

Find out what the EU is doing to get Europe back on its feet after the devastating economic impact of the COVID-19 pandemic.

1. A budget for a major economic stimulus

To help Europe recover from the disastrous economic consequences of the coronary pandemic, the Commission has proposed a €750 billion stimulus plan together with a new proposal for the next EU multi-annual budget (2021-2027).

2. Supporting EU health systems and health infrastructure

To help Europe deal with future outbreaks, the EU launched the new EU4Health programme, which will support healthcare systems in Member States and stimulate innovation and investment in the sector.

3. Protecting SMEs

The EU has mobilised €1 billion from the European Strategic Investment Fund to encourage banks and lenders to provide liquidity support to 100,000 SMEs.

4. Reducing risks of unemployment

In order to protect jobs and workers in the aftermath of the COVID-19 crisis, the temporary support instrument to reduce the risk of unemployment in emergency situations (SURE) will provide Member States with financial support of up to € 100 billion in the form of loans on concessional terms.

5. Supporting the tourism sector

To help citizens travel in Europe, the interactive Re-Open EU website provides travellers with the information they need to safely plan their trip in the EU.

6. Banking package to support families and businesses

To ensure that banks continue to lend to businesses and families to mitigate the economic impact of the crisis, the European Parliament approved a temporary relaxation of prudential rules for European banks.

7. Supporting agriculture and fisheries

In order to avoid food supply disruptions and shortages, the European Parliament adopted emergency measures to help farmers and fishermen affected by the COVID-19 pandemic.

8. Helping countries to finance the crisis response

To help Member States finance their response to the crisis, the EU launched a new initiative, the Coronavirus Response Investment Initiative.

9. Relaxation of State aid rules

During the spread of the pandemic in Europe, the EU launched a temporary framework for state aid to ensure that sufficient liquidity remains available for all types of businesses and that economic activity continues during and after the COVID-19 outbreak.

10. Protecting weakened European companies from foreign competition

The European Parliament demands a level playing field for all companies in order to avoid irregularities caused by unfair competition from foreign companies in the internal market.

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