The European Environmental Bureau, which groups 180 nongovernmental organizations in 41 countries, said that Commission President Ursula von der Leyen had effectively reneged on her 2019 European Green Deal, which was long seen as a global standard-bearer.
EU Commission Vice President Valdis Dombrovskis said that with the United States becoming a more uncertain ally by the week, the plan should be seen as a “call to action” to set EU industries free from excessive constraints and provide them with aid where necessary.
The European Union executive on Wednesday announced plans for a major revamp of its economic strategy to meet demands of the bloc's captains of industry who have long complained about excessive taxation, sky high energy prices and an overbearing bureaucracy that makes the bloc unattractive.
In the package of plans ranging from cutting red tape to containing energy prices, the executive commission came up with investments totaling hundreds of billions and savings totaling ten of billions of euros (dollars).
For example, Hoekstra said, plans include a “industrial decarbonization” bank, which could raise up to 100 billion euros in the next 10 years.
