80% of the European Parliament will endorse today a resolution, agreed by popular, liberal, social democrats, greens and the ECR group, for the creation of the European recovery fund called for by Spain, Italy, France and other countries to combat the economic damage caused by the pandemic.

The Euro-Parliament aligns with the positions of these countries and claims a real endowment (without accounting devices) of two trillion (almost twice the GDP of Spain and more than 14% of that of the EU), which lacks conditionality (unless the recipient country fights tax avoidance and evasion and money laundering, and complies with European values) and that the resources received by each state are mostly non-refundable subsidies (as requested by Southern Europe) although a part can be formalized as loans, which is what the Northern Governments are demanding for the whole of this billionaire action. The Parliament will also demand that this fund does not subtract resources from the rest of the community actions, in the case of the structural funds and the common agrarian policy. To this end, it is proposed that the EU endow itself with a very ambitious budget for 2021-2027 with an increase in own resources (now equivalent to only 10%), although countries would be exempted from making additional contributions, which may alleviate the resistance of the most reluctant and net contributors.

In order to increase resources, it is proposed to increase the fight against tax evasion at European level and increase tax collection with the new taxes that the Commission has already proposed and which are paralyzed by governments within the European Council: community level and those of financial transactions and technology companies.

Two Spanish deputies participated in the negotiation of the pact: Luis Garicano (liberal group) and Oviedo Jonás Fernández (social democrat). This agreement acts as pressure on the Commission, which has failed to meet the deadline given by the European Council to make its proposal before the 6th.