Guidelines for the 2027 Budget - Section III

Tabled by Julien Sanchez, Jana Nagyová

Added: 4a. Recalls that the NextGenerationEU (NGEU) instrument, presented as an exceptional recovery plan following the COVID-19 crisis and financed through the issuance of common bonds, was designed in a rushed manner by the Commission, without thorough impact assessment; recalls, in line with the European Court of Auditors’ annual report for the 2024 financial year, that the Commission has significantly increased its bond issuances over the past five years, having turned to capital markets to finance large-scale programmes such as SURE and NextGenerationEU; underlines that, according to the same report, ‘by 2027, outstanding EU borrowing could exceed EUR 900 billion, nearly 10 times the 2020 level prior to NGEU’; denounces once again the budgetary drift represented by this instrument, the financing of which will weigh heavily on the EU budget until 2058 owing to colossal interest charges that will durably reduce the EU’s financial room for manoeuvre over the next 30 years;

Wording as published by the EP, in English. PE782.988v01-00