European Semester Spring Package: PES welcomes focus on green and sustainable recovery

23/05/2022

Paolo Gentiloni, European Commissioner for Economy

Paolo Gentiloni, European Commissioner for Economy

The investments and progressive reforms contained in the European Semester Spring Package presented today will keep the European recovery on course, the Party of European Socialists said today.

PES President Sergei Stanishev said:

“I strongly support European Commissioner Paolo Gentiloni’s urge to keep the general escape clause activated in 2023. This is the right way forward to ensure that Member States can cater for the needs of society. At this critical juncture it is important to give countries the necessary flexibility to accommodate the rise in energy prices, the great inflationary pressure, the uncertainty that the ongoing war in Ukraine poses on the markets and on resources.

“The help that Member States have provided to citizens and business during the pandemic is visible in their balance sheets. In these times of great uncertainty, it would be a great mistake to force economies into unnecessary fiscal tightening. What Europe needs is to continue investing in the twin transitions and maintain support to both society and the real economy.”

Thanks to Paolo Gentiloni, European Commissioner for Economy, and Nicolas Schmit, European Commissioner for Jobs and Social Rights, the Package provides Member States with the right tools to continue supporting their economies in the wake of the coronavirus pandemic, and through the uncertainties created by Russia's war of aggression against Ukraine.

Investing for a fairer future and progressing the green transition – including shifting away from Russian energy through REPowerEU presented by European Commission Executive Vice-President Frans Timmermans – are the right priorities for the recovery.