49

September 10, 2020 "Nezavisimaya Gazeta" has published an article by the Head of the Sector of International Monetary and Credit Relations, Ph.D. E.A. Sidorova "Fighting against the crisis, European bureaucrats demonstrate wonders of ingenuity".

On September 11-12, an informal meeting of the EU Economy and Finance Ministers (ECOFIN) will take place in Berlin. There will be discussed not only the medium-term budget plan, which should be adopted during the presidency Germany (July-December 2020), but also the largest economic recovery program included in the EU Common Budget. The socio-economic crisis, or "Great Isolation", gave a new impetus to the development of supranational finance in the EU. Since the beginning of the coronavirus crisis, the European Commission has adopted about 300 measures, and at the end of May put forward a large-scale project for post-crisis economic recovery. An important role in this endeavor is assigned to the EU's Common Budget, which enhances its role as the main instrument for economic recovery. The calculations of the European Commission seem to be justified – the pandemic is a good time to get frightened countries to donate more money to the EU. But the upcoming approval of the General Budget by the European Parliament will be very difficult.

Full text of the article