MNI BRIEF: EC Proposes EUR400 Billion Crisis Mechanism
Jul-16 17:38By: David Thomas
Fiscal Policy+ 1
The European Commission has proposed a EUR400 billion crisis mechanism facility to provide funding for countries facing unexpected crises, EC President Ursula von der Leyen said on Wednesday.
"Crises are no longer exceptional, they are the norm," she said.
Von der Leyen also announced a EUR150bn programme for EU states to invest in strategic objectives, such as defence industry development, energy infrastructure and strategic technologies. The new facility programme is part of the EC's proposal for its next EUR2 trillion long-term budget for 2028-2034.
