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Next Generation EU: A euro area perspective

Maximilian Freier, Charlotte Grynberg, Marguerite O'Connell, Marta Rodríguez-Vives and Nico Zorell

Economic Bulletin Articles, 2022, vol. 1

Abstract: The article takes stock of Next Generation EU (NGEU) from a euro area perspective. NGEU is a temporary crisis instrument that, if implemented successfully, is expected to significantly improve Europe’s economic prospects. In the short term, it should support the recovery of the EU economy. In the medium term, NGEU should help to modernise the EU economies, with positive effects on their growth potential, resilience and convergence. The article provides a synthesis of the fiscal measures and structural reforms embedded in the national recovery and resilience plans of euro area countries. It also looks at the economic impact of the planned investments. Finally, the article examines the novel governance approach that can sustain a successful implementation of NGEU. JEL Classification: E62, E61, F47

Keywords: economic governance; Next Generation EU (NGEU); public investment; Recovery and Resilience Facility (RRF); structural reform (search for similar items in EconPapers)
Date: 2022-02
Note: 1649295
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