EU Recovery Plan: Unprecedented circumstances call for unprecedented measures
COVID-19 has overhauled our day-to-day lives in ways people thought were unimaginable mere months ago. A pandemic that started off in far-away China has now developed into a world problem that has put significant strains on society. The European Union has since been on the forefront in tackling the pandemic with initiatives being implemented to overcome the virus. A few months down the line and the outlook issteadily improving. We are slowly reaping the results of extraordinary initiatives that have significantly altered the way we live our everyday live. Whilst people are now enjoying this steady improvement the European Union is already making all the necessary preparations for a recovery plan. The general understanding is that in order to combat grim economic forecasts, the European Union’s response has to be decisive and ambitious. Unprecedented circumstances do call for unprecedented measures and a sustainable plan for the Union’s future needs to be panned out. To-date, we know that the recovery plan will most probably be based on three (3) fundamental pillars: 1.focus on areas most affected by the lockdown measures imposed during the outbreak, 2.re-starting the economy, mainly through private investments, & 3.reinforcing instruments that have been proven to be helpful during the crisis.