EU’s €750 billion recovery instrument needs stronger focus on investment and reform

In this year's edition of its Reform Barometer, given the exception year we have had, BusinessEurope analyses the National Recovery and Resilience Plans (NRRPs) submitted by EU Member States to the European Commission. EU leaders had agreed in July 2020 on the historic €750 billion NextGenerationEU recovery instrument, based on common borrowing, to ensure all Member States have the means to rebuild and restructure their economies after this unprecedented crisis. Most of our national business federations think the NRRPs will have some positive impact, but only 11% of them believe funds will sufficiently focus on boosting the recovery and help long-term growth and job creation. More than half of our member federations believe their country’s national recovery and resilience plans put insufficient focus on competitiveness, research, development and innovation. - Check it here, or watch our video teaser

A wake-up call: Companies cannot absorb additional burden on top of the crisis

On 24 March, speaking at the Tripartite Social Summit video conference on behalf of employers, BusinessEurope President Pierre Gattaz said: "Faced with the worst economic crisis since the second world war, the European Union has mobilised unprecedented financial resources. Now is the time to make the next steps to pave the way to a solid recovery. Enterprises are key to achieve Europe’s ambitions. Based on signals received from members, BusinessEurope has to issue a wake-up call: companies cannot absorb additional burden on top of the crisis! The EU Recovery and Resilience Facility offers a once-in-a-generation opportunity to transform our economies by boosting productivity, growth and competitiveness. To make sure we make optimal use of these funds, the EU must focus on three priorities: 1. putting in place a well-articulated European economic agenda, 2. pursuing effective better regulation policies, 3. accelerating roll out of vaccines and minimising restrictions at internal borders within our Single Market.  Read the full speech here

EU leaders agreement is oxygen for Europe’s economic recovery

The agreement reached on 10 December by the European Council and all EU Member States on the long-term EU budget (MFF 2021-2027) and the Next Generation EU recovery fund is a major step forward to support our economy during an unprecedented crisis and to avoid further delays when implementing the EU recovery plan across the EU as a whole. BusinessEurope President Pierre Gattaz said: "The EU leaders agreement is oxygen for Europe’s economic recovery. The endorsement by the European Council of the solution proposed on the Next Generation EU recovery fund as well as the long-term EU budget is a big relief. We urge the European Parliament now to back this deal to ensure that the recovery package can be swiftly implemented across the European Union as a whole and that focus can now shift to making sure that recovery plans are well designed, and money is well spent."

Photo copyright: European Union, 2020

Ambitious recovery plan essential to avoid long-term scars to EU economy

BusinessEurope on 30 April proposed urgent actions to kick-start Europe’s weakened economy. The proposals for a European economic recovery plan include:

  • an ambitious and coordinated fiscal stimulus to support demand and a rapid deployment of EU investment funds;
  • a revitalised and open single market and a strengthened single currency;
  • fair and free trade and investment, and support for multilateral solutions;
  • strengthened EU governance to ensure EU financial support increases implementation by member states of growth and employment-enhancing structural reforms and upward convergence.

Read the full document -  #UnitedAgainstCoronavirus  #WhateverItTakes

Responsibility, action and solidarity is urgently required to protect businesses, society and our economy

The European society is facing an extraordinary challenge from the outbreak of COVID-19. Our sympathies are with the families of those who have already lost loved ones, and our gratitude is to the workers and businesses who are already showing exceptional courage and resilience, both to treat the sick and to maintain the vital goods and services upon which we all depend.

It is clear that we are only at the beginning of this challenge. Protecting our society will require extraordinary responsibility, action and solidarity from all parties:

  • Responsibility as businesses, workers and citizens, to ensure everything we do helps address this crisis.
  • Action both to maintain the essential functioning of our economy in the immediate future and to ensure that once the spread of the virus is addressed, we have maintained the business eco-system vital to fully restoring our treasured European way of life.
  • Solidarity between businesses of all sizes, between businesses and governments and between all EU member states.

Read our full statement (16 March 2020)   #UnitedAgainstCoronavirus  #WhateverItTakes

Reports and studies Date
BusinessEurope Economic Outlook Summer 2021 - Securing the recovery 12/07/2021
BUSINESSEUROPE Reform Barometer 2021 - Ensuring national recovery and resilience plans deliver investment and reform 11/06/2021
Public letters Date
Strengthening the recovery, making good use of European funds, and alleviating international tensions - Message to the European Council meeting on 24-25 June 2021 21/06/2021
Response to the Covid-19 pandemic and TRIPs waiver - Joint industry letter to Ngozi Okonjo-Iweala, WTO Director-General 11/06/2021
Smart decisions needed on COVID, climate, EU-UK relations and Russia to help the recovery - Message to the European Council ahead of its special meeting on 25-26 May 2021 19/05/2021
Companies cannot absorb additional burden on top of the crisis - Message to the European Council meeting on 25-26 March 2021 22/03/2021
BusinessEurope's priorities for the Portuguese Presidency of the Council of the European Union - Letter to António Costa, Prime Minister of Portugal 13/01/2021
Council deal is essential to help the EU economy recover from the COVID-19 crisis - Message to the European Council meeting on 10-11 December 2020 07/12/2020
Europe urgently needs a growth-enhancing recovery plan and clear rules on future EU-UK relations - Message to the European Council meeting on 15-16 October 2020 12/10/2020
BusinessEurope's priorities for the German Presidency of the Council of the European Union - Letter to Angela Merkel, Federal Chancellor of Germany 07/07/2020
A determined financial and non-financial European response - Message to the European Council video meeting on 19 June 2020 16/06/2020
Video conference of the members of the European Council on 23 April 2020 - Input from the European social partners 22/04/2020
COVID-19 crisis: we need a strong Europe - Statement ahead of the video call of heads of state or government on 23 April 2020 22/04/2020
EPO oral proceedings by videoconference - Letter from T.Sueur to António Campinos, President of the European Patent Office 14/04/2020
Posting of workers directive - Letter from Markus J. Beyrer to EU Commissioner Nicolas Schmit 14/04/2020
Video conference of the members of the European Council on 23 April 2020 - Letter from Pierre Gattaz and Markus J. Beyrer to the President of the European Council Charles Michel 14/04/2020
Trade restrictions in the healthcare sector - Joint industry COVID-19 letter to EU trade ministers 10/04/2020
Extending deadlines for non-essential environment and climate-related consultations and regulations - Letter from Markus J. Beyrer to Frans Timmermans 10/04/2020
Impacts of COVID-19 in the area of customs - Letter from Markus J. Beyrer to EU Commissioner Paolo Gentiloni 08/04/2020
Current issues in trade, investment and supply chains - Letter from Markus J. Beyrer to EU Executive Vice-President Valdis Dombrovskis 07/04/2020
Social dialogue in Poland - Joint message from the European social partners to the European Commission 01/04/2020
The Global Business Coalition (GBC) members call to G20 for measures to enable global supply of vital protective gear, medicines and medical supplies 26/03/2020
The Global Business Coalition (GBC) members call to G20 for measures to prevent the spread of COVID-19 & mitigate its effects on people & markets 25/03/2020
Statement of the European social partners ETUC, BusinessEurope, CEEP, SMEUnited on the COVID-19 emergency - Message to the video conference of the members of the European Council on 26 March 2020 24/03/2020
Global Business Coalition (GBC) members call for measures to mitigate the effects of COVID-19 on supply chains 19/03/2020
Facts and figures Date
BUSINESSEUROPE Reform Barometer 2021 - Ensuring national recovery and resilience plans deliver investment and reform 11/06/2021
Position papers Date
B7 Summit 2021 - Joint statement 12/05/2021
COVID-19 crisis: Global Business Coalition calls on G20 leaders to take critical action at upcoming summit 16/11/2020
European employers are committed to creating the conditions for return to employment, job creation and better skills matching as part of the recovery 24/07/2020
BUSINESSEUROPE proposals for a European economic recovery plan 30/04/2020
COVID-19 - European social partners' input for the Cabinet of President Charles Michel 17/04/2020
The digital response to COVID-19 02/04/2020
Statement of the European social partners ETUC, BusinessEurope, CEEP, SMEunited on the COVID-19 emergency 16/03/2020
Responsibility, action and solidarity is urgently required to protect businesses, society and our economy 16/03/2020
Press releases Date
Health and humanitarian crisis in India 30/04/2021
EU-UK: European Parliament ratification ends uncertainty for business 28/04/2021
EU leaders agreement is oxygen for Europe’s economic recovery 11/12/2020
European social partners urge member states to endorse the agreement found on the recovery fund and long-term budget - Joint statement ahead of the European Council on 19 November 2020 18/11/2020
Rapid implementation of EU recovery instrument is key in enduring COVID crisis 03/11/2020
COVID-19 measures: A coordinated European approach is needed 21/09/2020
HOW to build a better Europe? 16/09/2020
European business welcomes that deal was found in European Council 21/07/2020
European business urges EU leaders to find an agreement 20/07/2020
Gattaz to EU leaders: agreement on EU recovery stimulus urgently needed 15/07/2020
No time to waste to kick-start the recovery 18/06/2020
Legal certainty for European companies (SEs) during COVID-19 crisis 28/05/2020
Determined financial and non-financial European response essential to overcome corona crisis 27/05/2020
EU recovery fund should restore business confidence 26/05/2020
Ambitious recovery plan essential to avoid long-term scars to EU economy 30/04/2020
EU solidarity and immediate cash availability is essential 23/04/2020
EU leaders must protect the European economy, whatever it takes 25/03/2020
European solidarity essential to overcome the crisis 18/03/2020
COVID-19: EU institutions and member states must support and protect businesses and workers 16/03/2020
Speeches Date
How to achieve a fair and sustainable recovery in Europe - Address by BusinessEurope President Pierre Gattaz at the Tripartite Social Summit on 24 March 2021 24/03/2021
Tripartite Social Summit on 23 June 2020 - Contribution of the social partners to relaunching growth and employment in the aftermath of COVID-19 - Opening address by Markus J. Beyrer 23/06/2020