McGuinness says Ireland will “fight for its fair share” of EU recovery fund

Ireland’s Vice President of the European Parliament has insisted the country will “fight for its fair share” of the EUs €750bn COVID-19 recovery fund.

The plan, put forward by European Commission President Ursula von der Leyen today will offer grants and loans to countries hardest-hit by the virus.

It will see the borrowing the money against its seven-year budget and repaying it between 2028 and 2058.

Projects that facilitate the green and digital transitions for the bloc will be prioritised.

On the Hard Shoulder this evening, Fine Gael MP and European Parliament Vice President Mairead McGuinness said the division of the funds had yet to be agreed.

She suggested Ireland would be getting some of the funds but “not a lot.”

“For Ireland, we are always benefitting when the EU economy is strong,” she said. “We are impacted badly when our near neighbour is weak for example – but also when Europe is weak.

“So, the idea is that Europe would lift those economies that have been particularly badly hit and nobody would want what Italy and Spain went through, not just in terms of the economy.”

She noted that plan will have to be agreed by the parliaments of all member states and noted that the ‘frugal four’ - Austria, Sweden, Denmark and the Netherlands – are currently opposed.

“But the idea is now out there,” she said. “I would be concerned if there was no announcement today at all.

“Ireland will fight for its fair share of what is out there both in terms of loans and grants. We will fight hard and nobody more than I will do that.”

She said the division of the fund is “not fixed in stone,” adding that when the negotiations begin, “everything will have to be on the table – the level playing field and fairness to everybody.”

“So today is the start of a process,” she said. “The idea is out there. It is novel and new and there will be those who will support it and those who will attack it.

“It will be changed in the process but it is so important that Europe has a plan for the recovery because, for the next generation, if we don’t fund a recovery that is effective, they have very little to look forward to.”

You can listen back to the full interview here:

McGuinness says Ireland will “fight for its fair share” of EU recovery fund