Open strategic autonomy ensures the capacity to cope alone if necessary but without ruling out cooperation whenever possible. It relies on foresight to identify threats and ensures resilience by anticipating the required responses. Can the resulting preparedness also prevent crises (or dissuade others from creating them) by normalising internally situations that would else become emergencies?

EPRS STOA podcast - What if open strategic autonomy could break the cycle of recurring crises?

Every year the European Central Bank publishes an annual report on how it has carried out its supervisory responsibilities, it describes the tasks and activities of the European System of Central Banks (ESCB) and reports on the Eurosystem’s monetary policy. The report is usually published in April of the following year. The Chair of the Supervisory Board of the ECB presents the report to the European Parliament at a public hearing and then during a debate in plenary.

See more on this topic by visiting our <a href="https://multimedia.europarl.europa.eu/en/european-central-bank-annual-report-8th-parliamentary-term_4003_pk">package</a> for the 8th parliamentary term.

European Central Bank - annual report

The EU’s 2021-2027 long-term budget, together with NextGenerationEU, amounts to €1.8 trillion. This unprecedented response will help repair the economic and social damage caused by the coronavirus pandemic and aid the transition towards a modern, more sustainable Europe.

The package consists of the long-term budget (the 2021-2027 MFF multiannual financial framework) of €1.074 trillion, combined with the temporary recovery instrument NextGenerationEU of €750 billion.

It was adopted by the European Parliament on 16 December 2020.

MEPs negotiated major top-ups for EU flagship programmes like Health, Horizon (Research), Erasmus+ and supported also a roadmap introducing new sources of EU revenue. This roadmap is part of the ‘Interinstitutional Agreement’, a legally binding text. In addition to the contribution made as of 2021, based on how much unrecycled plastic a country has, the roadmap includes an ETS (Emissions Trading System)-based Own Resource (from 2023, possibly linked with a carbon border adjustment mechanism). It also includes a digital levy (from 2023) and a Financial Transaction Tax-based Own Resource, as well as a financial contribution that the corporate sector must make or a new common corporate tax base (from 2026).

Parliament also approved in its February 2024 session, the revision of the EU’s long-term budget.

This includes the €50 billion Ukraine Facility and the “Strategic Technologies for Europe Platform” (STEP), which aims to make the EU more strategically independent and to foster innovation. It also enables the EU budget to respond more effectively to evolving needs and unforeseen circumstances. In particular, it bolsters the EU’s budget to deal with migration and external challenges as well as the EU's crisis preparedness and budgetary flexibility. In line with Parliament’s demands, the revision introduces a mechanism to tackle escalating costs linked to the repayment of the NextGenerationEU recovery plan amid rising interest rates.

EU Multiannual Financial Framework 2021-2027

The coronavirus crisis is a major shock for the European and global economies. Member States have already adopted budgetary, liquidity and policy measures to increase the capacity of their health systems and provide relief to those citizens and sectors that are particularly impacted.

Among the measures the EU is taking to support the economic recovery are the EU's recovery plan, Next Generation EU, SURE: temporary support for workers, amendments to the EU budget to address urgent issues, re-direction of EU funds to help member states most in need, support to most affected sectors.

On 21 July 2020, EU leaders agreed on a €750 billion recovery effort, Next Generation EU, to help the EU tackle the crisis caused by the pandemic. Alongside the recovery package, EU leaders agreed on a €1 074.3 billion long-term EU budget for 2021-2027. Among others, the budget will support investment in the digital and green transitions and resilience.

Together with the €540 billion of funds already in place for the three safety nets (for workers, for businesses and for member states), the overall EU's recovery package amounts to €2 364.3 billion (source: Council).

Coronavirus outbreak: impact on economic situation

EU financed railway projects in Gävle, Sweden

Railway infrastructure upgrade Gävle-Åänge, Sweden - Recovery and Resilience (RFF)

Medical Equipment financed by the RRF/European Next Generation funds in an hospital of Madrid (Spain)

Press conference on REPowerEU chapters in recovery and resilience plans

EP Plenary session - REPowerEU chapters in recovery and resilience plans

ECON - ENVI joint Committee - Public Hearing on the complementary Taxonomy Delegated Act

BUDG ECON - joint Committee recovery and resilience Dialogue

EP Plenary Session - State of play of the RRF (Recovery and Resilience Facility)

BUDG - ECON joint Committee -  Recovery and Resilience Dialogue (RRF)

EP Plenary session - The state of play on the submitted RRF recovery plans awaiting approval

EP Plenary session - The views of the Parliament on the ongoing assessment by the Commission and the Council of the national recovery and resilience plans

EP Plenary session - The right of information of the Parliament regarding the ongoing assessment of the national recovery and resilience plans

EP Plenary session -  Good governance of national Recovery&Resilience Plans

EP Plenary session - Statements - European Pillar of Social Rights (Porto summit)

EP Plenary session - European Semester: Annual Sustainable Growth Strategy 2021

Lex Signing ceremony on Recovery and Resilience Facility:  - Joint Press Conference by David SASSOLI, EP President, Antonio COSTA, Portuguese Prime Minister and by Ursula von der LEYEN, EC President, on behalf of the Presidency of the Council

Lex Signing ceremony on Recovery and Resilience Facility:  - Signature by David SASSOLI, EP President and by Antonio COSTA, Portuguese Prime Minister on behalf of the Council and in the presence of Ursula von der LEYEN, President of the EC

This infoclip shows footage of the Cukrarna Gallery opened in September 2021 in Ljubljana (Slovenia) with the contribution of the European Regional and Development Fund (ERDF). The Slovenian capital has gained a new space that serves both as a venue for exhibiting contemporary art and as a place where thoughts can be explored and contemporary art projects of all kinds – visual, intermedia, performance, sound, music and more – can be created and presented. The financial contribution from the EU ERDF is of 10,7 million euros for a total estimated value of 24,6 million euros.

Infoclip: "Cukrarna" Gallery - European Regional Development Fund (ERDF) - Ljubljana (Slovenia)

This infoclip shows the Ljubjana main train station and its ongoing renovation financed by the EU Recovery and Resilience Facility (RRF) that will increase the efficiency of rail transport for end users, especially by eliminating the existing bottleneck in Ljubljana. In particular, the renovation of the railway station in Ljubljana will increase the capacity for freight and passenger traffic in the wider city area with the aim of reducing the use of cars by daily migrants by enabling a 15-minute frequency of passenger trains in the Ljubljana area from all five directions in the morning and afternoon rush hours. The Recovery and Resilience Facility contributes EUR 214 million to the investment worth EUR 260 million in total. The works started in December 2023 and should be finalised by mid-2026.

Infoclip: Upgrade of the railway station - Recovery and Resilience Facility (RRF) - Ljubljana (Slovenia)

In the Tricity agglomeration (Gdańsk, Gdynia, Sopot), a large proportion of EU Cohesion funds are spent on road infrastructure. This infoclip shows the Gdańsk-Sucharski-Słowacki roads connecting Lech Wałęsa Airport with the seaport that have been built or renovated with EU Cohesion fund co-financing of 260 million euros. In Gdynia, Kwiatkowski road 41.1 million euros, Janek Wiśniewski street and the Wzgórze St. Maximilian interchange have been expanded. Using the EU support of 31.8 million euros, Tristar – an integrated traffic control system in Gdańsk, Gdynia and Sopot – has been developed and brought into use, which has shortened public transport journey times by 15%.

Infoclip: Road infrastructure - Cohesion Fund - Gdansk (Poland)

This infoclip shows the construction works for the new tram line in Tallinn (Estonia) running along a stretch of about 2.5 kilometers, starting at the intersection of Kivisilla and Gonsiori Streets and extending to Põhja Puiestee. The aim of the works is to improve the comfort of public transport, connecting Tallinn's main transport hubs and making transfers as easy as possible. The Vanasadama tram line construction works, including VAT and owner’s supervision, cost about €46 million, with €36.5 million from the EU Recovery and Resilience Facility (RRF).

Infoclip: Construction of the Old City Harbour tram line - Recovery and Resilience Facility (RRF) – Tallinn (Estonia)

The "Energy Cells" is a project that consists of a system of four energy storage devices (batteries) with a total capacity of 200 megawatts (MW) and 200 megawatt-hours (MWh) into Lithuania’s energy system. Energy Cells has four 50 MW and 50 MWh energy storage facilities at transformer substations in Vilnius, Šiauliai, Alytus, and Utena. It is currently the largest project in the Baltics and one of the largest of its kind in Europe. Energy Cells received 87.6 million euros from the NextGenerationEU, the Recovery and Resilience Facility under the “New Generation Lithuania” plan for the installation of the energy storage system. The total value of the project, which will provide Lithuania with the instantaneous power reserve and the possibility to operate autonomously in isolated mode, is of 109 million euros.

Infoclip: Integrated system for batteries "Energy Cells" - Recovery and Resilience Facility (RRF) - Vilnius (Lithuania)

This infoclip shows the António Cruz Serra residence is located between several academies at the University of Lisbon, with close access to the University's central services. The residence has mixed occupancy, offering rooms of different types, which include access for reduced mobility. The residence has various study rooms for a large number of residents and several social and leisure spaces. Residents may also have access to areas at their disposal for preparing food, as well as washing and drying clothes. The total number of beds is 335. they are distributed in 145 single rooms, 90 double rooms, and 10 reduced mobility rooms. The student’s residence had financial support from the Next Generation EU (Recovery and Resilience Facility) with 10.232.575,00 €.

Infoclip: University Residence for students - Recovery and Resilience Facility (RRF) - Lisbon (Portugal)

The Recovery and Resilience Mechanism (RRM) is a temporary instrument that forms the centerpiece of the NextGenerationEU funds. The Swedish recovery and resilience plan has responded to the urgent need to foster a strong recovery, while making the Swedish economy and society more resilient and prepared for the future through the €3.2 billion allocated to the country. On green transportation, €148 million will be invested in strengthening support to improve railway capacity. For instance,more than 60 km of Swedish railway tracks were upgraded and 6 switches were replaced on the Gävle-Åänge route. The ultimate goal is to increase rail capacity and enable more people and companies to use rail as a means of transport.

Infoclip: Railway infrastructure upgrade - Recovery and Resilience Fund (RRF) - Gävle-Vallvik (Sweden)

The Digital Pact ("DigitalPakt") for Schools 2019-2024 builds on the strategy of the Standing Conference of the Ministers of Education and Cultural Affairs "Education in the Digital World". The whole funds for DigitalPakt were 6,5 billion euros (of the total amount the Recovery and Resilience Facility fund for digitalization of the education contributed for 1,435 billion euros). Berlin state received 256,9 million euros.The goal of of the project is to enabling pupils of all school levels and school types to develop basic skills for a confident handling of the digital world. In order to achieve this, investments are intended to improve the digital infrastructure as well as the technical equipment of schools and their administration. This infoclip shows the application of funds to the Immanuel-Kant-Gymnasium in Berlin, in particular 3D-printing of objects and design of the high-school logos on t-shirts.

Infoclip: Digital Pact for Schools - Recovery and Resilience Facility (RRF) - Berlin (Germany)

This infoclip shows the project "Quantum Austria" (funded with 107 million euros by the Recovery and Resilience Facility) aims to support excellent, transformative, and innovative basic research in the field of quantum physics, quantum computing, as well as next generation high performance computing to ensure continued competitiveness globally. The footage illustrate ongoing research projects: "Preqursor" which aim to perform machine learning on photonic platforms, and probing optical nonlinearities of material and "QuBELT" for the investigation of 2D materials (University of Vienna); "Quantum Klystron" and "Quantum Optics with Electron Photon Pairs" (Technical University of Vienna) which goal is respectively to employ a spatially modulated electron beam as method of manipulation of quantum systems, and to develop novel quantum technology for electron microscopy. License for using the footage: CC BY-NC-ND.

Infoclip: Projects for quantum research and technologies, "Quantum Austria" - Recovery and Resilience Facility (RRF) - Vienna (Austria)

The Recovery and Resilience Facility (RRF) is a temporary instrument that is the centrepiece of the NextGenerationEU, the EU’s plan to emerge stronger and more resilient from the current crisis. This program of interventions included in the Italian National RRF for the part under the Ministry of Education's responsibility. Thanks to a total investment of 17.59 billion schools have the opportunity to be able to really play that strategic educational role for the country's growth. It is at school that student accompanied in building competencies and acquiring skills, prepare for the future. This infoclip shows educational robotics, augmented reality and virtual reality, STEM/STEAM disciplines design thinking, modelling and craft 4.0, use of artificial intelligence in education, innovative teaching methodologies, solar-powered system and electrolysis of the last classroom, and pathway to study water cycle.

Infoclip: laboratories to enhance students' skills in Science, Technology, Engineering and Maths (STEM) – Recovery and Resilience Facility - Brindisi (Italy)

Under the Recovery and Resilience Facility (RRF), Member States can access grants and loans to implement reforms and investments aimed at countering the effects of the COVID-19 crisis and regain sustainable growth. Spain has received some 69512.59 million euro of funding from the RRF. Out of these, some 300 million euro were awarded to FOSSA Systems, in Madrid, Spain. Thanks to the grant, FOSSA Systems has been able to develop, put into orbit and monitor nano satellites. The nano satellites allow their clients to monitor and communicate with their assets outside of terrestrial network coverage at a fraction of the normal cost. This benefits numerous SMEs and helps keep Spain at the forefront of the digital transformation. This infoclip illustrates the production of nano satellites in Spain (Madrid), financed by the Recovery and Resilience Facility plan.

Infoclip: Nano satellites - Recovery and Resilience Facility - Madrid (Spain)

During three days, the delegation looked into ongoing issues with the protection of the EU budget and the rule of law conditionality mechanism in Hungary. Monika HOHLMEIER (EPP, DE), Head of the delegation, Petri SARVAMAA, (EPP, FI), Lara WOLTERS (S&D, NL), and Daniel FREUND (Greens/EFA, DE) conclude the fact-finding mission by a Press conference. The transcription is the results of an automated process. Please check against delivery.

Press conference by Monika HOHLMEIER (EPP, DE), Head of the delegation, Petri SARVAMAA, (EPP, FI), Lara WOLTERS (S&D, NL) and Daniel FREUND (Greens/EFA, DE) on the conclusions of the fact-finding mission

The Recovery and Resilience Facility (RRF) is a temporary instrument that is the centrepiece of NextGenerationEU funds - the EU’s plan to emerge stronger and more resilient from the current crisis. Denmark has has received 1.551 million euros from these funds. Out of these, 26.8 million euros will be invested in the conversion of municipal ferries into electric ferries. This will allow cleaner travel among the Danish islands and a considerable reduction in the local CO2-emissions.This infoclip illustrates an example of an electric ferry bus currently operating in central Copenhagen and the Agersø Omø ferries that are to be become electric by 2030.

Infoclip: Electric ferries - Recovery and Resilience Facility - Copenhagen (Denmark)

Monika HOHLMEIER (EPP, DE), co-rapporteur, Jeroen LENAERS (EPP, NL), co-rapporteur hold a press conference on Commission's discharge for the financial year 2021 in the European Parliament in Strasbourg.This transcription is a result of an automatic process. Please check against delivery.

Press conference by Monika HOHLMEIER (EPP,DE), co-rapporteur, Jeroen LENAERS (EPP, NL), co-rapporteur, on Commission's discharge for the financial year 2021, including the Recovery and Resilience Facility (RRF)

The national recovery and resilience plans, through which the Recovery and Resilience Facility (RRF) is implemented, have a strong focus on energy, investing €88.49 billion (17.9 % of their resources) in the policy area. The European Commission proposed new REPowerEU chapters to the national recovery and resilience plans, using sums still available for RRF loans, some fresh resources and voluntary transfers from other EU instruments. The REPowerEU plan is designed to end the EU's dependence on Russian fossil fuels and accelerate the green transition. In this third and last episode of the chronicle, Alessandro D'Alfonso, the Head of the Next Generation EU Monitoring Service at the EPRS, will delve into the relevance of the Next Generation EU Recovery Instrument in the face of the ongoing energy crisis in Europe. #NextGenerationEU

EPRS - EU Recovery Instrument: Looking to the future

A major innovation in EU finances to counter the socio-economic impact of the pandemic, the Next Generation EU Recovery Instrument is already delivering concrete results and implementation is in full swing. Citizens and businesses in the EU are already experiencing tangible benefits as EU countries' GDP is also positively impacted. In this second episode of the chronicle, Alessandro D'Alfonso, the Head of the Next Generation EU Monitoring Service at the EPRS, will delve into the practical details of the implementation of the Next Generation EU Recovery Instrument. Restrictions: ©The material may not be edited and must be shown entirely. #NextGenerationEU

EPRS - EU Recovery Instrument: What to expect?

The Covid-19 pandemic left an indelible mark on Europe. While we may no longer live in lockdown or see masks everywhere, the pandemic’s impact is still being felt. Because of the far-reaching effects on our economy and society at large, the European Union's response went far beyond securing enough vaccines. The European Commission rolled out €800 billion in financial relief through the Next Generation EU Recovery Instrument. In this first episode of the chronicle, Alessandro D'Alfonso, the Head of the Next Generation EU Monitoring Service at the EPRS, will delve into the details of this historic package and what it means for the EU. Restrictions: ©The material may not be edited and must be shown entirely. #NextGenerationEU

EPRS - EU Recovery Instrument: What is it?

Food prices in the EU have risen dramatically over the past two years. The chain of disruptions caused by the COVID 19 pandemic, extreme weather events and the Russian invasion of Ukraine in 2022 have led to severe shortages in the agri-food chain, resulting in higher consumer prices. The latest European Parliament Eurobarometer survey shows that the cost of living continues to be the main concern for European citizens. Restrictions: ©The material may not be edited and must be shown entirely.

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