Recently, after days of discussions, EU leaders finally reached a consensus and passed a long-term economic budget of 1.8243 trillion euros, intended for post-COVID-19 economic reconstruction from 2021 to 2027. This recovery plan is the largest economic relief package in the history of the EU. The final consensus also marks the first time that EU member states have jointly assumed debt, paving the way for Europe's post-pandemic economic recovery.
Among them, Greece will receive 72 billion euros in funding to address the economic impact of the pandemic. Greek Prime Minister Kyriakos Mitsotakis described it as a "national victory."
This funding will be invested in national development, benefiting all Greek citizens. It is believed that the Greek economy will recover steadily. Previously, Governor of the Bank of Greece Yannis Stournaras submitted the "Monetary Policy Report 2019-2020" to the Greek Parliament, predicting a full recovery for the Greek economy in 2021. Based on economic trends, the Bank of Greece forecasts that the Greek economy will recover at rates of 5.6% and 3.7% in 2021 and 2022, respectively.
Meanwhile, according to the EU's principles for fund allocation, which reference historical GDP data and employment performance, and given Ireland's strong economic performance in 2019 and previous years, as well as confidence in its ability to recover quickly, the final resolution is that Ireland will receive 1.3 billion euros in EU funding in 2021 and 2022.
Within the 750 billion euro fund, the previous cuts to agricultural subsidies for Ireland under the EU's Common Agricultural Policy (CAP) were overturned. In the new CAP budget, Ireland will be granted 300 million euros in agricultural subsidies.
In addition, the EU will establish a 5 billion euro Brexit Adjustment Reserve to support countries severely affected by Brexit. This decision was jointly signed by all 27 EU member states.
Minister of State for European Affairs Thomas Byrne stated that Ireland will be the "largest beneficiary" of the EU's Brexit Adjustment Reserve, adding that the Just Transition Fund is also very beneficial to Ireland's economic recovery.
After Brexit, Ireland became the only country capable of maintaining its rights in the UK unchanged while connecting the UK and the EU, which is also an opportunity for Ireland to enhance its influence within the EU.
As you know, Ireland, known as the "Emerald Isle," has always attracted numerous investors to immigrate due to its beautiful and suitable environment, highly developed economy, sound and advanced medical care, mature and excellent education, and generous social welfare. Currently, the Irish Immigration Service has announced the removal of the submission window restrictions for the 2020 Immigrant Investor Programme (IIP)! Starting from June 12, applicants can submit their applications at any time. By investing in an Irish government-approved donation project, with a donation of only 500,000 euros (discounted to 400,000 euros for group donations), the whole family can apply for Irish residency.
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