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The European Added Value of the Recovery and Resilience Facility
This paper conducts an in-depth analysis of the National Recovery and Resilience Plans (NRRPs) of Austria, Belgium, and Germany. Exploiting a detailed database that covers all the investments and reforms included in the NRRPs and building on insights from semistructured expert interviews, we study their alignment with EU objectives, the additionality of the spending, and the cross-border effects. We find that all three NRRPs are well aligned with the objectives defined in the RRF Regulation but differ greatly in terms of additionality. Cross-border projects are only of limited importance. We finally highlight some missed opportunities for other cross-border projects.This document was provided by the Economic Governance Support Unit at the request of the ECON Committee.
The Recovery and Resilience Facility
The introduction of milestones and targets to monitor National Recovery and Resilience Plans (NRRPs) has been welcomed as a positive step for the EU budget, a shift away from simple money managing to one focused on achieving policy objectives. But are the milestones and targets (M&Ts) adequate enough to really monitor the plans’ effective implementation? Drawing on Italy as an example, this CEPS Explainer highlights the current limits of the M&Ts, being sometimes overly aggregated or too vague. It argues that to ensure the RRF is a true ‘success story’, on top of duly assessing the timely implementation of the agreed M&Ts and ascertaining that they have been formally fulfilled, a real reflection on the limits of the current system cannot be avoided and should happen sooner rather than later.
The Recovery and Resilience Facility
Key messages: The Policy Brief analyzes to what extent the funds provided by the Recovery and Resilience Facility (RRF) are used by member states to finance new projects (additionality of public investments). The analysis shows that in the EU-27 there is no significant relationship between the amount of RRF grants (in % of GDP) and the acceleration in public investment. This suggests that RRF funds are mainly used to finance existing investment projects. An in-depth analysis of the National Recovery Resilience Plans of Austria, Belgium, Germany, Spain, Italy and Portugal reveals substantial heterogeneity across countries. The share of new investments projects is smallest in Austria (19%) and Germany (20%) and highest in Belgium (77%). The shares amount to 40% in Spain and to 64% in Italy and Portugal.
The RRF Role in Strengthening Active Labour Market Policies and Public Employment Services
This study analyses the measures addressing Pillar 4 (social and territorial cohesion) of the Recovery and Resilience Facility (RRF). It focuses on two policy domains: active labour market policies and public employment services. The study zooms in on the reforms and investments included in the RRF plans of three EU Member States (Italy, Spain and Croatia) and assesses their relevance, effectiveness and coherence.
The Tools for Protecting the EU Budget from Breaches of the Rule of Law
The rule of law Conditionality Mechanism is a new instrument that entered into force in January 2021. It allows the European Union (EU) to take measures in cases when breaches of the rule of law principles affect or seriously risk affecting the EU budget or the EU’s financial interests. As this new mechanism has so far only been applied once, some questions are left open on its application and the possibilities offered by it. The full study discusses the potential scope of application of this new tool. In particular, it analyses how it can be used either as an alternative to, or in combination with, other tools and mechanisms aimed at protecting the EU’s financial interests.
Research Handbook on Post-Pandemic EU Economic Governance and NGEU Law
This Research Handbook provides a comprehensive analysis of post-pandemic EU economic governance and Next Generation EU (NGEU) law. It explores the profound impact of Covid-19 on the architecture of EU economic governance, focusing on the establishment and implications of the NGEU Recovery Fund.
