The European Commission said it was confident on Monday that the EU stimulus fund would be launched as planned and without delay, after the court suspended Germany's ratification process.
Read also: Karlsruhe court suspends ratification of EU recovery plan
"
We remain convinced that the recovery plan will be launched as planned and our objective remains to conclude the ratification process by the end of the second quarter
", declared a spokesperson of the Commission, during a conference of hurry.
Bitterly negotiated last summer by the Twenty-Seven, this EU fund endowed with 750 billion euros is intended to deal with the economic consequences of the Covid-19 pandemic.
So far, 16 countries have ratified it, including France, Italy and Spain.
In Germany, both chambers of the national parliament have already given the green light.
The Commission convinced of the legality of the plan
But on Friday, the German constitutional court "
decided that the text of the law (...) should not be initialed by the head of state
".
It considers it necessary to await a decision on a complaint filed in Germany against the mechanism creating for the first time a European common debt.
Ratification of the stimulus fund by all 27 member states is needed before Brussels can turn to the markets to borrow and distribute the promised funding.
The European Commission "
is convinced of the legality
" of the plan.
"
Its validity has not been questioned by the
German Constitutional
Court,
" said the spokesperson, saying he was confident "
in a quick decision
".
The first payments from the European Recovery Fund are expected during the summer.
The Member States must present their investment projects in the coming weeks, accompanied by reform commitments, which will have to be approved both by the Commission and then by the European Council.
