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The European Union’s stimulus funding may do more harm than good to Lithuania, which has no plan how to effectively invest the money, and may lead to more inequality, according to Lithuanian MEP Aušra Maldeikienė.
Lithuania is looking to get 6.3 billion euros from the EU’s post-coronavirus recovery fund, 3.9 billion in subsidies and 2.4 billion in loans.
In all, the European Commission has proposed measures worth 1.85 trillion euros for the period 2021–2027. The plan has to be endorsed by the European Council and the European Parliament.
Maldeikienė, who sits with the European People’s Party and is a member of the EP’s Committee on Economic and Monetary Affairs, told LRT RADIO she might vote against the package, unless crucial issues – like the sharing of debt repayment – were ironed out.
“At the moment, the budget committee is holding serious discussions and even the European People’s Party’s group […] that [EC President] Ursula von der Leyen indirectly represents, insists that there are many problems [with the Recovery Fund] and unless they are solved – firstly, how to share the repayment of the debt – we will vote against it. I will definitely vote against it,” Maldeikienė told LRT RADIO.