The American edition of Politico recalls that the fund was originally created to deal with the consequences of the COVID-19 pandemic to ensure the recovery and resilience of EU economies.
Then it was decided to direct the fund’s resources to climate programs and digital technologies. These priorities seemed particularly urgent following the September 2024 report by former European Central Bank President and former Italian Prime Minister Mario Draghi on “The Future of European Competitiveness.” The report was commissioned by the European Commission and caused a wide resonance in European circles, as it exposed the serious lag of the European economy in innovation and technology, especially digital technology.
However, as Politico notes, the current decision reflects a radical shift in EU priorities since the pandemic and post-pandemic recovery. Redirecting the fund’s money to defense spending could lead to a serious militarization of Europe.
True, the European Commission has set a deadline for the implementation of this program – until August 2026. And only after fulfilling a number of requirements and goals can countries claim access to funds from the fund.
