Communication from the Commission to the European Council - A European Economic Recovery Plan

European Commission's response to the current economic and financial crisis

All Member States need to take action to deal with the crisis. Properly coordinated, national efforts can target different goals in parallel. They can cushion the blow of recessionin the short term. But they can also promote the structural reforms needed to help the EU emerge stronger from the crisis, without undermining longer term fiscal sustainability.

For this reason, this Recovery Plan puts particular emphasis on innovation and greening of EU investment. The EU level can act as a catalyst for such "smart action", combining EU policies and funds to help Member States maintain or pull forward investments which will create jobs, boost demand, and strengthen Europe's capacity to benefit from globalisation.

The strategic aims of the Recovery Plan are to:

  • Swiftly stimulate demand and boost consumer confidence;
  • Lessen the human cost of the economic downturn and its impact on the most vulnerable.
  • Help Europe to prepare to take advantage when growth returns so that the European economy is in tune with the demands of competitiveness and the needs of the future
  • Speed up the shift towards a low carbon economy.
Download here the Recovery Plan.