EU economy to rebound ‘quite strongly’ next year says Dombrovskis

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The EU economy should rebound "quite strongly" next year, the European Commission’s vice president told Euronews, touting his team’s plans for an ambitious coronavirus recovery fund.

The €750-billion fund unveiled this week aims to prop up the bloc as the coronavirus pandemic drags it into its worst economic crisis in decades.

"The more we can protect our companies and jobs now – the faster we can rebound," Executive Vice-President Valdis Dombrovskis said in an interview with Euronews Business Editor Sasha Vakulina.

"Of course it depends on how the epidemiological situation will develop because what is now holding back the economy is the containment measures that have been introduced by member states."

Dombrovskis said the Commission’s proposed recovery fund should serve as an opportunity to make the bloc’s economy more green and fit for the digital age.

"We are not proposing to come back to so-to-say ‘business as usual’, but also use this package to stimulate the economy and facilitate the green and the digital transitions of our economy."

He said the first reactions to the plan had been "overall positive".

"It is recognized that this is a major economic stimulus package, as it is necessary to make sure that European economy can recover strongly," Dombrovskis said.

You can watch excerpts from the interview in the video player above.