"Recovery plan von der Leyen historic and balanced"

Deputy Prime Minister and Finance Minister Alexander De Croo calls European Commission President Ursula von der Leyen’s recovery plan historic and balanced.

Alexander De Croo: “The European Commission's recovery plan strikes a good balance between solidarity and responsibility. Like Belgium, Von der Leyen advocates a mix of loans and grants, linked to conditions and reforms. It is the only way Europe will emerge stronger from this crisis.”

Copernican revolution

By recognizing that the European Commission itself can raise money from the markets, the recovery plan is a Copernican revolution. By doing so, we create a more robust Europe that is better equipped to tackle future crises.

Alexander De Croo: “Europe ‘s triple-A rating is no trophy to keep in your case. We have to use it in times of crisis. In the end, it is a matter of ratio: it enables efficient financing at a favorable rate that allows Member States to catch their breath. We have to avoid a debt crisis, as was the case in 2012 following the financial and economic crisis."

Finance Minister Alexander De Croo calls for the European Commission's plan to be examined thoroughly.

“We have leave this sterile battle of  Northern Europe versus Southern Europe behind us. The corona crisis is affecting all of Europe. We are in this together. Especially for a small and open economy like Belgium, the recovery largely depends on how Europe can recover in the coming months and years. ”

“Together with the Scandinavian countries, Austria and the Netherlands, Belgium is one of the countries that benefit the most from the European single market. Every year we gain over 4% of GDP thanks to our access to the European single market. It is in the Belgian interest that the European economy recovers as quickly as possible and that no countries in the South slide off. ”