MISSEDLINK

EU Leaders seal Historic € 750bn Recovery Plan - the Guardian: LINK ¤ the GUARDIAN

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• "the EU leaders - reach a historic agreement - on a € 750bn - recovery fund !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "and the long-term spending plans - for the European Union - the heads of state and government !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "finally give their seal of approval - to a plan - for the EU - to jointly borrow debt !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "to be disbursed through grants - the end of the long process !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "is announced - by the European Council President - Charles Michel - with a single word - "deal"  !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "France’s President - Emmanuel Macron - describes it as a - "historic day for Europe"  !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "Ursula von der Leyen - the European Commission President - says the negotiations - have been "worth it"  !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "for the seven-year budget - for the European Union - and a one-off economic stimulus !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "to disburse - vast sums of money - in the form of non-repayable grants - to countries - which need them most !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "the breakthrough - follows a new proposal - of solidarity - from Michel - for the EU - to pay out !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "€ 390bn - in grants - and € 360bn - in loans - from the new economic - reconstruction fund !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "this recovery fund - is indeed a historic change - and a historic step - for Europe !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "the British departure - of the EU - has changed the balance - among the remaining - 27 members !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "and creates a - new dynamic - on the rule of law - many countries !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "want a link - to EU funds - for example Hungary - and Poland’s governments !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the compromise - agreed by the leaders - the rule of law mechanism - to be made by a qualified majority - of member states !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the EU leaders agree - to increase the core - recovery fund - the so-called recovery - and resilience facility !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "it is the main - economic stimulus - to fund - the EU transition - to a net zero - carbon economy !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "by 2050 - there is a specific fund - to help countries - ditch coal !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the just transition fund - with a budget of - € 17.5bn - beside the recovery fund !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "there is an agreement on - € 1.074tn - on EU programmes - the EU’s seven-year budget !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

 

 

 

 

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EU agrees to € 1.8tn seven-year Budget and Recovery Fund - the Guardian: LINK ¤ the GUARDIAN

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• "the European Union’s - unprecedented - € 1.8tn - seven-year budget - and recovery fund !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "is agreed - Hungary - and Poland - have a link - between payments - and maintaining the rule of law !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• ""now we can start - with the implementation - and build our - sustainable economies"  !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the President of the European Council - Charles Michel - says !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "our landmark - recovery package - drives forward our green - and digital transitions !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the seven-year - EU budget - known as the multiannual - financial framework - and the recovery fund !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "known as Next Generation EU - Hungary - and Poland - the rule-of-law condition - on the payment of funds !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "designed to be a block - on corruption - a text reassuring them - that conditions relate to future spending !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "the European Court of Justice - will also rule - on the legality - of the tool - if it is challenged !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the EU’s supreme court - will provide judgment - on how to trigger - the mechanism !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "countries such as - Sweden - and the Netherlands - have been vocal - in insisting - on maintaining the condition !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "on the basis - that they can not turn - a blind eye - to poor governance !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the European Parliament - which negotiated the draft - rule-of-law mechanism !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

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• "with the EU - backs the compromise - sealed at the EU summit !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

 

 

 

 

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EU's multi-billion Recovery Fund gets go-ahead from European Parliament - Euronews: LINK ¤ EURONEWS

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• "at the heart of - Europe's recovery plan - is the - € 672.5 billion !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "Recovery and Resilience Facility - to help the economy !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "made up of - € 312.5 billion - in grants - and € 360 billion - in loans !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the European Parliament - now votes to approve the - RRF - confirming the political agreement reached !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "this vote paves the way - for the RRF - to come into force !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "to access the money - member states - need to prepare - national recovery plans !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "showing they allocate - at least 37% - of the funds - to the transition - to a greener economy !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "and at least 20% - to initiatives - to digitise - their economies !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "this money - must be spent - on public investments - and reforms - to strengthen the country's - sustainable economy !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "France - drawns up a € 100 billion - national recovery plan - with € 40 billion - to come from the EU’s !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "recovery and resilience facility - about a third of this - € 30 billion - is spent on the transition !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "to a greener economy - this includes investments - in building renovations - clean transport !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "and decarbonizing industry - the green hydrogen sector - receives € 7 billion !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "French energy companies - Total - and Engie - launch the Masshylia project - in Châteauneuf-les-Martigues in Provence !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "it is France's largest - green hydrogen production site - used to make biofuel - a cleaner alternative to diesel !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the past biorefinery - had used what was known as - "grey" hydrogen - fossil fuels !"

 

 

 

 

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• "it is replaced with - green hydrogen !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "produced using - solar panels - Total estimates - this reduces their carbon footprint - by 15,000 tonnes of CO2 !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the project is counting - on public funds - to kickstart the - green hydrogen sector - the cost for the first units were higher - help at the start !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the Masshylia project - also helps the region's - economic stimulus - between 50,000 - and 150,000 - direct and indirect jobs !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "are created - and the financial investment - helps the region - to protect the climate !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "projects like the - green hydrogen plant - in France - are the kind of projects - the European Commission !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "wants to see governments - invest in - says European Commission Vice President - Valdis Dombrovskis !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "a substantial part - of the recovery and resilience facility - is linked - with our work towards - climate neutrality !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• ""clean hydrogen - is clearly one of those - work directions" - says Dombrovskis !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "it is for each member state - to decide - which projects - they are exactly putting forward !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "EU countries - are in the process - of submitting their - nation recovery and resilience plans !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "to the European Commission - there are other initiatives - for a green transition !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "that governments - can consider - investing in - other activities - that can be financed in - renewable energies !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "are in what we are calling - a renovation wave - so improving the - energy efficiency - of buildings - and many other areas !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• ""we have created - an unprecedented - financial package for the EU" - says Dombrovskis !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "it is a very substantial - amount of money - so now the main thing is - that this money really goes - to the economy !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "and it is well spent - the largest funds receives - Italy - the second largest - Spain - and the third largest - France !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the European Commission - starts with paying - after approval of the plan - of 13% - of pre-financing !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "so that is a - substantial amount of money - immediately flowing - towards the member states !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "there is another important element - the European Commission - goes to the markets !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

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• "and borrows - this money - to get the recovery funds in Europe - where they are most needed - as soon as possible !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

 

 

 

 

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the Recovery Plan for Europe - European Union: LINK ¤ EUROPEAN UNION

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• "the European Union - is working - to turn its - € 750 billion - recovery package - Next Generation EU !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "into action - and the EU - is working to turn the - € 672.5 billion - Recovery and Resilience Facility - RRF !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "into concrete action - the EU Council adopts the regulation - establishing the Recovery and Resilience Facility !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "which lies at the heart - of the EU’s recovery plan - it makes € 672.5 billion - in grants - and loans !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "available for - public investment - and reforms - in the 27 member states !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "the funds - help member states - address the economic - and social impacts !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "whilst ensuring - that their economies - undertake the green - and digital transitions !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "becoming more sustainable - and resilient - and to build resilient - and inclusive societies !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "António Costa - Portugalʼs Prime Minister - says "with the Recovery and Resilience Facility - in place"  !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "it is time - to focus - all efforts - on the preparation - and submission !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "of ambitious - national recovery and resilience plans !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the new facility - offers the EU member states - the unprecedented possibility - of supporting recovery !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "and of undertaking - green - and digital transitions - in an inclusive way !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "we need to make - the best use - of this opportunity !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "in order to receive support - member states need to set out - in their national recovery and resilience plans !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "a coherent package - of reforms - and investment projects - covering six policy areas - of European relevance !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the - green transition !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "digital transformation !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "smart - sustainable - and inclusive growth - and jobs !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "social - and territorial cohesion !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "health - and resilience !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "and policies - for the next generation - including education - and skills !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "support is linked - to country-specific recommendations - under the European semester !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "which identify - central challenges - for each member state - to address - to strengthen social - and economic cohesion !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "it also contributes - to the implementation - of the European - Pillar of Social Rights !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "many of the key requirements - concern - the EU’s - green - and digital objectives !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "at least - 37% - of each plan’s allocation - has to support - the green transition !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "and at least - 20% - the digital transformation !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "in addition - all measures - included in member states’ plans - has to respect the !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• ""do no significant harm" - principle !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "to protect - the EU’s - environmental goals !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

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• "importantly - member states - also need to ensure - that adequate control systems !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "are put in place - to prevent - detect - and correct corruption - fraud !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "and conflicts of interest - the EU Commission has up to two months - to assess the plans !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "of the member states - and subsequently the Council has four weeks - to adopt its decision - on the final approval - of each plan !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "member states - are able to get pre-financing - of up to - 13% - of the grants - and loans !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "provided for in their plan - the rest of the funds - will be paid - based on the achievement !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "of the agreed milestones - and targets !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

 

 

 

 

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the Structures of the Eurozone - Missed Link:

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• "at the beginning - of the ECB - there had been some - German economic orthodoxy !"

 

 

 

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• "this was too one-sided - and was too short-sighted !"

 

 

 

 

 

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• "the question is - how can the Euro - be sustainable ?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "what are the best political - and economic structures - for the Eurozone ?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "some countries - were able to devalue - their currency - in former times !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "what do they get - today - instead ?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "to search - for the right balance - between the states !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "and to find - the right balance - between the states !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the better - the Eurozone - the better - for each country !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "for the benefit - of all Euro states !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

 

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Currency Union- Bloomberg: LINK ¤ BLOOMBERG

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• "for a currency union - to handle widely - divergent economies !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "they must be - deeply integrated - across multiple dimensions !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "various mechanisms - for smoothing over - differences - among its states !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the mechanisms - include large - fiscal transfers !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "by necessity - currency unions - are transfer unions !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "about 2.0 percent - of the gross domestic product - of the states !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "large-scale fiscal transfers - are not - the only mechanism needed !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "every year - the ECB - the European Central Bank - and the central banks - of the states !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

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• "should reallocate assets - and smooth over - regional imbalances !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "for example - an Euro-area - sovereign-bond arrangement - that pools deficits !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "the Euro - was never conceived - as an end in itself !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "it was created - as a means - toward greater unity - and growth !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "Europe - must integrate - far more deeply !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"