Europe's Recovery: Can Europe bounce back?
The effects of COVID-19 have been felt all over Europe. The agreement reached between the Council and the European Parliament last week over the next Multiannual Financial Framework (MFF) of €1 074.3 billion combined with a €750 billion temporary recovery instrument, NextGeneration, is a steppingstone towards helping the EU economy recover from the damage the COVID crisis. It is now crucial for European business that the deal reached is swiftly ratified to further ensure certainty for the millions of firms and other actors that will be able to make use of EU-funded programmes. In its recently published 2020 Autumn Economic Outlook, BusinessEurope suggests that whilst the economic recovery is underway, it is uneven and uncertain. It is predicted that by the end of 2021, the EU economy will likely still be 3% below pre-crisis level. Business investment has been particularly hard hit, evidenced by both stron