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VdL-We Propose EU Sovereignty Fund; €250bn From RePowerEU To Net Zero Sector

EU

European Commission President Ursula von der Leyen delivering presser outlining the EU's Green Deal Industrial Plan. Livestream: https://audiovisual.ec.europa.eu/en/.

  • VdL: EU will propose Net Zero Industry Act to focus on key tech for shift to net zero [...] EU will propose Critical Raw Materials Act. [...] EU will propose electricity market design in March 2023.
  • VdL on funding at the EU level: We will re-direct around EUR250bn from Repower EU to net zero industries.
  • VdL: 'We will propose to set up an EU Sovereignty Fund.' This is likely to prove controversial, with fiscal hawks in EU such as Germany and the Netherlands seen as strongly opposed to further EU debt issuance.
  • VdL: We need to restart talks on Mercosur deal.

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