Italy to reveal how it will spend €209bn of EU coronavirus recovery cash
When EU leaders agreed back in July on a €750 billion fund to support the bloc’s economic recovery from coronavirus, Italy received the largest share.
But before it gives any money to Rome, Brussels wants to know how the country is proposing to spend it.
Italy will present a plan on Wednesday that it intends to submit to the European Commission.
We already know that the government intends to focus on six priorities – decarbonisation of the economy, digitalisation, healthcare, education, infrastructure, and social cohesion.”
Italy’s prime minister, Giuseppe Conte, said he doesn’t want to waste a “single euro”. But there are, however, some crucial reforms Italy needs to get underway to make sure it achieves its economic growth goals They involve Italy’s public administration, tax system and labour market.
Italy will send its draft proposal to Brussels by October 15, while the deadline to present the final plan is set for January 2021.
It will be then up to the EU Commission to say whether it matches its expectations or not.
Watch Elena Cavallone on Good Morning Europe in the player above.