Von der Leyen on the Stability Pact: 'First use 95 billion'
'Reduce dependence on fossil fuels, we will prepare a plan for electrification by the summer'
Key points
Commission President von der Leyen, in the press conference at the end of the informal European Council in Nicosia, Cyprus, reiterated that the clause to suspend budgetary rules can be triggered if there is a recession, a 'severe' slowdown in activity and this is not the case 'fortunately'. However, he indicated that 'we are on high alert, we are closely monitoring the situation and Ecofin will discuss the matter'. Von der Leyen then said, in relation to the request for flexibility (from Italy and Spain), that "there is a real need for huge investments in the energy sector" and that the EU has made available with all European instruments around 300 billion euros for investments in this sector, of which 95 billion "not yet used". Hence the need for states to 'use them'.
"Reducing hyper-dependence on fossil fuels"
"The impact of the crisis is tangible, the fossil fuel import bill has increased by 25 billion. We have to reduce our hyper-dependence on fossil sources, we have to push our affordable and clean energy resources, such as renewables and nuclear power," von der Leyen added. "This situation of hyper-dependence must and will change. That is why we will accelerate the electrification of our Union. By the summer we will present the action plan for electrification with an ambitious start, because the overall message yesterday was: much more clean and sustainable energy."
"It is not only about affordability, but also about security and economic independence. Turning to our competitiveness agenda, just this morning, as President of the European Commission, I signed the roadmap for a single Europe, finally with a precise date,' he added.
New resources are needed
"If we want" to secure the necessary resources to repay the Recovery's debt and finance the EU's new and historical priorities, "there is only one solution: new own resources, which are indispensable," von der Leyen added at the end of the Cyprus summit. "I presented the different elements of the new own resources package. Without them, the choice is clear: either we increase national contributions or we reduce spending capacity. There is no alternative. Less spending capacity would mean less Europe precisely when more Europe is needed'.
Considering actions against the Hormuz crisis, such as the extension of Aspides and the Imec corridor
"The security" of the EU and the Gulf "is intrinsically linked. A threat to a merchant ship in the Strait of Hormuz is a threat to a factory, for example, in Belgium. That is why I proposed going beyond reactive crisis management. We could consider extending the scope of missions such as the Operation Aspides, moving from mere protection to sophisticated joint maritime coordination, Ursula von der Leyen said again.
