Joint letter to the Eurogroup and ESM Board of Governors for a common response that combines solidarity and ecological imperatives

A joint letter from several NGOs calling for the activation of the European Stability Mechanism (ESM) to support EU Member States during the Covid-19 crisis without imposing austerity measures, instead aligning recovery funds with the European Green Deal and climate objectives.

• The authors argue that the ESM and Eurogroup should avoid imposing restrictive macroeconomic or fiscal conditions on Member States receiving support, noting that the European Commission has already suspended EU fiscal rules via the general escape clause.
• The letter advocates for precautionary credit lines to be spent in alignment with the European Green Deal to avoid future austerity measures that would conflict with climate, nature, and health goals.
• The authors suggest that specific economic activities, such as renewable energy deployment, building insulation, energy efficiency, and agroecological food systems, could be scaled up to create local jobs and environmental benefits.
• The document supports additional financing options being explored by the Eurogroup, including the 'SURE' proposal for short-term working schemes, the European Investment Bank's (EIB) Guarantee Fund, and a French proposal for a time-bound common debt fund.

APA

Reclaim Finance (2020). Joint letter to the Eurogroup and ESM Board of Governors for a common response that combines solidarity and ecological imperatives. https://reclaimfinance.org/site/wp-content/uploads/2020/04/NGOLetterEurogroup_20200406-2.pdf

Chicago

Reclaim Finance. Joint letter to the Eurogroup and ESM Board of Governors for a common response that combines solidarity and ecological imperatives. 2020. https://reclaimfinance.org/site/wp-content/uploads/2020/04/NGOLetterEurogroup_20200406-2.pdf.

Wikipedia

{{cite press release |author=Reclaim Finance |title=Joint letter to the Eurogroup and ESM Board of Governors for a common response that combines solidarity and ecological imperatives |date=6 April 2020 |url=https://reclaimfinance.org/site/wp-content/uploads/2020/04/NGOLetterEurogroup_20200406-2.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{reclaimfinance2020joint, author = {{Reclaim Finance}}, title = {{Joint letter to the Eurogroup and ESM Board of Governors for a common response that combines solidarity and ecological imperatives}}, publisher = {Reclaim Finance}, year = {2020}, month = apr, url = {https://reclaimfinance.org/site/wp-content/uploads/2020/04/NGOLetterEurogroup_20200406-2.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }