On July 21st , at the end of a long negotiation between European heads of state (in particular between the southern states and the “frugal” countries), the European Council launched a historic aid package to deal with the economic shock caused by the Coronavirus emergency. The measure approved by the Council marks an historic moment in the European economy, because of its enormous scale: around 1800 billion will be provided in order to stimulate European economic recovery.
Specifically, the total will be divided as follows: 750 billion will be allocated to the Economic Recovery Plan (Recovery Fund or Next Generation EU), while 1074 billion will represent the volume of the European budget 2021-2027 (Multiannual Financial Framework or MFF).
The most important innovation is the Recovery Fund, a common debt instrument of exceptional character, which is designed to integrate the European budget by providing support for investment and reforms to increase the resilience of Member States’ economies and promote sustainable growth. Of the EUR 750 billion, 390 billion will be granted in the form of non-repayable grants and the remaining 360 billion in the form of credits to be repaid by 2058, and can be used by States over the three-year period 2021-2024 to deal with the emergency, with particular regard to digitization and ecological transition.
The Next Generation EU plan contains several measures, divided as follows:
Recovery and Resilience Facility: This is the largest measure (€672.5 billion in total) and is aimed at supporting the necessary investments and reforms, with a special emphasis on sustainable growth.
ReactEU: The Recovery Assistance for European Cohesion and Territories (€47.5 billion) is a measure aimed at the recovery of Member States’ labor markets, and can be implemented through employment incentives, support for youth work and SME’s liquidity.
Horizon Europe: A program (€5 billion) aimed at boosting the scientific research in the field of innovation, fostering synergy between member countries, and widening participation and strengthening ofthe European Research Area.
InvestEU: A €5.6 billion fund whereby the Union wants to «support the policy objectives of the Union by mobilizing public and private investment within the EU that fulfil the criterion of additionality, thereby addressing market failures and sub-optimal investment situations that hamper the achievement of EU goals regarding sustainability, competitiveness and inclusive growth.»
Rural Development: €7.5 billion will be used to boost competitiveness and ecological transition in agriculture.
Just Transition Fund (JTF):A fund designed only for ecological transition, in compliance with the Paris Accords, which will be financed with EUR 10 billion.
RescEU: A fund (€1.9 billion) which will provide the Union with resources and an effective logistical infrastructure in order to respond to various types of emergencies, including health emergencies.
Italy is the country that will receive the most important share, amounting to EUR 209 billion: EUR 82 billion in non-repayable grants and EUR 127 billion in credits, the Government shall present the Recovery Plan in the autumn, which, will be approved by the European Council by the end of 2020 only if it is deemed to be in line with the Commission’s directives. 70% of the total will be distributed in 2021-2022, while the remaining 30% will be shared by the end of 2023, 10% of which (about 20 billion euros) will be distributed as pre-financing, with the aim of covering of expenses dictated by the emergency.
INTRODUCTION India and Italy have over the years developed strong business and trade ties. The bilateral trade between the two countries was valued at USD 14.25 billion in 2022-23. Italy is the 18th largest foreign investor in India with a cumulative FDI inflow of USD 3.40 billion from April 2000-September 2023 and fashion and textile
The competitive and global nature of the fashion industry has made trademark protection increasingly important for companies operating in this field. A trademark not only serves as a distinctive sign but is also a strategic asset that embodies values like quality, design, and a brand’s tradition. In Italy, in particular, Made in Italy is a
Italy represents a destination of interest for foreign investments and among the types of investments chosen are those of capitalizing in start-ups and small and medium-sized enterprises (SMEs) as in many cases they grant excellent results in terms of returns and innovations. Like any type of investment, however, there are opportunities but also legal risks
#Italy
Manage Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.