EU Commission proposes Reform Support Programme and Investment Stabilisation Function

The Commission is proposing two new instruments to deepen Europe’s Economic and Monetary Union and make use of the EU budget to strengthen economic performance and resilience. The Reform Support Programme will have an overall budget of €25 billion and will provide financial and technical support to all EU Member States for reforms aimed at modernising their economies, notably reform priorities identified in the context of the European Semester. Targeted support will also be offered to those Member States wishing to join the euro. The European Investment Stabilisation Function will help maintain public investment levels in the event of large asymmetric shocks— it will be able to provide up to €30 billion in back-to-back loans guaranteed by the EU budget. It also Includes a grant component to cover the full costs of the interest.

Read more…