Options for a European Recovery Fund

Abstract

On April 23, 2020, the European Council mandated the European Commission to work on a European Recovery Fund and to clarify its possible link with the Multiannual Financial Framework (MFF), the EU’s long-term budget. Negotiations on the MFF for the period 2021-2027 were at an advanced state when the coronavirus-induced economic crisis hit the EU. Like so much else, the EU budget now needs to be adapted to meet new challenges in the wake of the health crisis.