In the comprehensive plan to drive Europe’s recovery from the current economic crisis, presented by the European Commission, the EU’s solidarity is also extended to the candidate and potential candidate countries. The Commission continues to support the economic and social consolidation of the candidate countries and the Western Balkans in the mutual interest of the EU and the region. To this end, the Commission will put in place a € 120 million "Crisis Response Package" aimed at supporting economic development, for SMEs in particular and leveraging an amount of € 500 million in loans from International Financial Institutions.

At the adoption of the Commission’s Recovery Plan, Commissioner Rehn stated: "I am happy that the Commission adopted this major proposal and it is of particular importance that the enlargement countries are not forgotten. The financial crisis has clearly showed how much South-East Europe is already integrated to the EU. The emerging economies of this region are among the most dynamic economies in Europe, being a major destination for EU exports. This shows, that enlargement is not the problem, on the contrary, it is part of the solution for the economic revitalisation of Europe. We share a common destiny."

The Commission’s Recovery Plan is based on two mutually reinforcing main elements. Firstly, short-term measures to boost demand save jobs and help restore confidence. Secondly, "smart investment" to yield higher growth and sustainable prosperity in the longer-term. The Plan calls for a timely, targeted and temporary fiscal stimulus of around €200 billion or 1.5% of EU GDP, within both national budgets (around €170 billion, 1.2% of GDP) and EU and European Investment Bank budgets (around €30 billion, 0.3% of GDP). Every Member State is called upon to take major measures good for its own citizens and good for the rest of Europe. The Recovery Plan will reinforce and accelerate reforms already underway under the Lisbon Growth and Jobs Strategy. It includes extensive action at national and EU level to help households and industry and concentrate support on the most vulnerable. It puts forward concrete steps to promote entrepreneurship, research and innovation, including in the car and construction industries. The Recovery Plan aims to boost efforts to tackle climate change while creating much-needed jobs at the same time, through for example strategic investment in energy efficient buildings and technologies.

More information on the Commission’s Recovery Plan for growth and jobs:

http://europa.eu/press_room/index_en.htm