Spain and Portugal on Wednesday, then on Thursday in Greece and Denmark, and finally on Friday in Luxembourg. The European ‘tour’ of the President of the Commission, Ursula von der Leyen, will be used to deliver the assessments of the EU executive directly to the heads of government of the first five countries which, by now only lacking official status, will be the first to pass the Brussels exam on the Recovery Fund. The maxi recovery plan subsidized by the European Union cannot in fact start in the individual Member States until the approval of the Commission and the EU Council arrives. And the five trips of von der Leyen announced today by his spokespersons make it clear that Italy will have to wait at least until the following week (21-27 June), before knowing the Commission’s assessment of its Recovery plan.
The latter has in fact available up to two months to evaluate the national recovery and resilience plans (Pnrr), while the EU Council – where the Governments are represented – has a further 30 days to give the final go ahead. In this calendar the national plans must be placed in order of presentation. Italy is among the thirteen states that met the deadline of 30 April by which the Commission asked for recovery plans. A deadline respected above all by the countries that are keen to receive pre-financing in the summer, equal to 13% of the entire sum assigned to them (for Italy it is approximately 25 billion).
However, the Government of Mario Draghi, he delivered the plan only on April 30th. This could be the explanation of the priority given by the Commission to the countries that first sent the recovery plans to Palazzo Berlaymont. Any ok to the Italian plan with a week delay compared to Spain, Portugal and the other three countries reached by the ‘Ursula tour’ should not change the timing of disbursement of the desired pre-financing. As reiterated a few days ago by the Budget Commissioner, Johannes Hahn, if the money raised by the EU with the issuance of the first tranche of common bonds should not be sufficient to cover all the advances promised by Brussels, the sums will be scattered “pro rata”, ie in proportion to the commitments made. Good news for Italy.