InvestEU Programme (debate) – Renew Vlad Gheorghe’s European Parliament speech on investments required for the future of Europe (09.03.2021).
The COVID pandemic spotlighted the investment gaps in our strategic sectors. It made clear that we need to build autonomy at home. Critical infrastructure should be the first priority for each Member State. By investing today in our hospitals, pharma production, safe and secure roads and sustainable energy, we shall prevent fatalities and avoid heavy social security costs.
Innovation inside the EU is key to future strength. We need to be ready for future challenges and prepare, at national and EU level, to be leaders in research and new technologies meant to help the next generations.
But, to maximize the added value of InvestEU, we need stronger national financial institutions. Potentially, some EUR 400 billion are waiting to be invested. And yes, we can rely on the investment ‘Advisory Hub’ to help the implementation, but we also need strong and performant national development institutions.
Last, but not least, InvestEU as a tool for strategic autonomy will make the EU less dependent on foreign providers. The EU should never negotiate with third countries from the position of need. Energy autonomy is just one example. It’s unfair to justify projects such as Nord Stream 2, just by the need for energy resources, while inside the Union we have all it takes to produce extra energy.