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MNI BRIEF: EU Still On Course For H2 RRF Borrowing Programme

(MNI) LONDON
BRUSSELS (MNI)

The European Commission remains confident that the German Constitutional Court will be able to reach a "swift" decision on the EU's own resources directive, so allowing borrowing for the Recovery and Resilience Fund to get underway on schedule by the end of the second quarter, with a spokesman saying Monday Brussels remains "convinced that the own resources law is in order." According to comments earlier this month by Budget Commissioner Johannes Hahn, borrowing through 2021 is expected to hit "at least EUR56 billion".

So far, 23 draft recovery plan documents have been received from member states but no final plans so far. "Discussions between the Commission and member states have intensified in previous weeks and will continue," the spokesperson added.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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