Business & Economy

Von der Leyen: Europe facing a ‘defining moment’

Barcelona, Spain, May 6 (EFE).- Europe is facing a “defining moment” for the future of the union, president of the European Commission, Ursula von der Leyen, said Friday.

“This is a defining moment for Europe and for our future,” von der Leyen said at the Cercle d’Economia awards ceremony in Barcelona.

“Today, I can tell you with certainty that Europe is seizing its moment, we are tapping into the true power of our union.”

Von der Leyen announced that the EU has provided member states with roughly 100 billion euros in investment to reshape the bloc’s economy as part of the NextGenerationEU, an EU-funded post-pandemic recovery package.

“It is an unprecedented plan with investment and reform and this plan can reshape our economy for decades ahead,” she said.

Von der Leyen added Spain has always been a “front runner” in the NextGenerationEU plan and is becoming one of Europe’s new hydrogen hubs.

“Spain has built through the years a resilient energy system, (…) You are a global leader in clean energy, you have a dynamic and innovative economy,” she said.

Referring to the need for Europe to end its dependency on Russian fossil fuels, von der Leyen said Spain, and in particular Catalonia, played an important role.

“NextGenerationEU will also contribute to turning Catalonia into one of Europe’s new hydrogen valleys.

“This region is the perfect setting for it, (…) you are creating a full hydrogen ecosystem” she said.

“Today, Spain is at the heart of Europe.” EFE


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