Ratas: European economy must be relaunched decisively after crisis

Prime Minister Jüri Ratas
Prime Minister Jüri Ratas Source: Priit Mürk/ERR

Prime Minister Jüri Ratas (Center), at a video conference with EU heads of state and government, stressed that the European economy must be relaunched quickly and decisively after the acute health crisis has been overcome in order to support the smooth functioning of the internal market, as the welfare of all Europeans depends on it.

At the video conference, the leaders of EU countries focused on the COVID-19 recovery plan and the steps to be taken to revive the economy. The member states gave the European Commission the task to analyse and submit a proposal for the establishment of the European Recovery Fund. On the basis of Thursday's debate, the European Commission will make a proposal at the beginning of May how to adjust the next long-term budget of the European Union, which has not yet been agreed, to overcome the crisis and to help the economy.

Ratas stressed that the smooth relaunch of the European internal market is vital and is the foundation of economic recovery. "We are all together in this crisis, it affects all European countries. Therefore, it is very important that we work together to overcome the crisis and coordinate our actions so that it helps our people and our businesses," said Ratas. "The solution for the for recovery of the European economy must be adequate. It must be strategic and convincing for the markets, but also temporary in nature," the prime minister added.

According to Ratas, the recovery of the European economy cannot be based solely on loans and financial instruments, but support must be provided in order to create certainty for investment and to motivate the continuation of major strategic projects that are important for the EU. "Common projects will revive the economy and help us to recover more quickly from the crisis. They must also help us to develop digital economies, achieve climate goals and strengthen the internal market and resilience to different risks," said Ratas.

Prime Minister also stressed that, in a crisis situation, the European Union must not forget its neighbours. "You know your friends in need. The European Union must support the countries of Africa and the Western Balkans and Eastern Partnership countries. We must help them because we are closely connected," said Ratas.


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Editor: Anders Nõmm

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