European Commission President Ursula von der Leyen says a new generation of Europeans will benefit from a € 1.85 trillion stimulus package announced on Wednesday and designed to lift the 27-member bloc from the financial crisis caused by the coronavirus pandemic.
Speaking to Euronews shortly after announcing a € 750 billion recovery fund, Von Der Leyen said the crisis caused by the COVID-19 pandemic "affects all member states".
"They all see economic damage in the single market, but also in national economies, so this is Europe's time," she said.
"We have to overcome this crisis together. The proposal I present is for a reliable and proven quality framework: the European budget. In the next generation of the EU, the recovery package will allow us to come out of the crisis stronger than before."
As much of the financing will be financed by loans on the financial markets, concerns have been raised that a new generation of Europeans would pay for the bailout package. But Von Der Leyen said the funding was built specifically with this generation in mind.
"More importantly, we have a pact with the next generation – we say: 'Yes, we have to raise money now and invest it, but we will invest in the European priorities that are so important to you.
"This is the Green Europe Agreement and the digitalization that is extremely important for the young generation […]. If they have to pay part of that money, at least they must reap and reap the benefits of these investments".
You can watch the interview with Ursula Von Der Leyen in the player above.