In June 2022, the European Commission announced its intention to issue €50 billion in EU bonds to finance NGEU. The Commission also signalled that it may be called upon to issue up to €9 billion for loans to support Ukraine under a new exceptional macro-financial assistance (MFA) programme, and up to €6.6 billion for loans under its SURE programme.
In July 2022, the European Commission launched the process for setting up the EU Issuance Service. With this service, EU bonds will benefit from being directly part of the payment and settlement infrastructure of the Eurosystem.
In July 2022, the Commission marked the one-year anniversary of the inaugural NextGenerationEU bond by publishing a policy brief, ‘The EU as an issuer: the NextGenerationEU Transformation’. The policy brief examines the impact of the NextGenerationEU funding programme on the status of the EU as an issuer.
Ready to dive into a debate on geopolitical Europe? Interested in how to make it happen and how to finance it?
Ready to dive into a debate on geopolitical Europe? Interested in how to make it happen and how to finance it?
Ready to dive into a debate on geopolitical Europe? Interested in how to make it happen and how to finance it?
The Annual EU Budget conference on 10 October is fast approaching!
Block your agendas and do not miss the opportunity to debate Europe's challenges and priorities at our Annual EU Budget Conference on 10 October 2022. This year, the focus will be on “Enhancing EU strategic autonomy - a budget for a geopolitical Europe”.
EU Budget Policy Briefs are written by the staff of the European Commission’s Directorate-General for Budget to inform discussion on the EU budget and stimulate debate.
The past few months have witnessed prolonged market turbulence and high volatility, triggered by rising inflation, interest rate expectations and recalibration of monetary policy. The uncertainty has been magnified by the economic and political fall-out from the Russian invasion of Ukraine.
Today (24 June), the European Commission issued its semi-annual funding plan for the period July to end-December 2022. In keeping with the NextGenerationEU (NGEU) diversified funding strategy, the plan sets out the Commission’s intentions regarding the issuance of EU-Bonds and EU-Bills over the period, providing market participants with transparency and predictability.
The war in Ukraine has accelerated the necessity to invest in Europe’s energy independence. Coupled with the need to tackle the climate crisis, this will require energy savings, diversification of energy supplies, and accelerated roll-out of renewable energy.
Ukraine has been a long-term beneficiary of the EU’s Macro-Financial Assistance (MFA) programme. To date, the EU has provided €6.8 billion to Ukraine through six MFA programmes. This includes the most recent emergency programme of €1.2 billion, for which the Commission raised funds in two private placements in the first half of 2022. The proceeds were transferred to the Ukrainian authorities within 3 days of the transactions.
In September 2021, the Commission introduced its auction programme, supported by colleagues from Banque de France, to further enhance the flexibility of its funding strategy. Since then, EU auctions have become a staple of the Commission’s diversified funding strategy, with nearly €20 billion raised across 7 bond auctions and a total of almost €58 billion raised across 19 EU-Bill auctions.
Q2 2022 was characterised by persistent market volatility and global interest rate increases following Russia’s attack on Ukraine and ensuing economic turmoil.
Publications, e.g. the policy brief or other relevant ones, can also be added!
Block your agendas and do not miss the opportunity to debate Europe's challenges and priorities at our Annual EU Budget Conference on 10 October 2022. This year, the focus will be on “Enhancing EU strategic autonomy - a budget for a geopolitical Europe”.
is absolutely possible. We can have a teaser/subtitle text here.
EU strategic autonomy and the role of the EU budget
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