The head of the European Commission believes that the EU will need a new “Marshall Plan” to overcome the consequences of the coronavirus pandemic infection. She wrote about this in an author’s column in the newspaper “Welt am Sonntag”.
“The many billions have to be invested today to avert a greater catastrophe in future” – writes Leyen. She also expressed confidence in large financial investments that will help the European economy overcome the consequences of the epidemic “binding generations together” and strengthening EU unity.
The main idea of the head of the European Commission is the need for a radical revision of the EU budget for 2021-2027. In her opinion, EU countries should show solidarity by channelling funds to this budget.
Plan of US Secretary George Marshall provided US assistance to European countries after the Second World War. The countries of the Soviet bloc rejected this plan while the states of Western Europe, including West Germany, accepted. He helped to rebuild the European economy which was destroyed after the war. Von der Leyen does not call for US assistance; the “Marshall Plan” is referred to as a metaphor for large financial investments.
In the EU there is now a discussion about which tools to use to overcome the recession which most likely will be caused by the coronavirus pandemic.
More than 600 thousand cases of coronavirus infection have been reported in EU countries and more than 40 thousand have died, most deaths are from Italy, Spain and France. The economies of the EU countries are suffering not only because of the pandemic but also because of the quarantine measures in most European countries. Many enterprises have been closed mainly in the service sector, border control has been reintroduced between the Schengen countries or the borders have been completely closed. The EU is also criticized for the lack of assistance to the most affected countries, such as Italy.