European Union Allocates €1.8 Trillion to Fund a Greener, Resilient, and Digitalized Europe
The European Commission, the European Member States of the Council of the budget, and the European Parliament agreed to 18 trillion Euros the largest budget package European Commission ever agreed to. The financial package will fund what is needed to restore a post COVID-19 Europe. The new Europe will be greener, more resilient, and more our more up to meeting the demands of today’s world than ever before. This long-term €18 trillion budget is in place from 2021 to 2027. Over half the financial package is designed to support modernizing the way things are done in Europe. Modernization includes changing from analog to digital in most cases, innovation, research, fair climate digital programs, The new budget unallocated 30 percent of the money for fighting erratic climate changes. Some of the budget is being used to fund the NextGeneration EU and support the 21st century agricultural programs. Many other programs being funded by the budget are the Horizon Europe fund for improving the climate, the Digital Europe Program, and Just Transition Fund.
Countdown as Europe Goes Digital
The European Council held a video conference on March 25, 2021, for council members. The video shows the Council leaders stressing, in an open and self-described manner, the importance of a digital sovereign. The council received an open invitation to examine the Commission’s Communication Council on the 2030 Digital Compass that is preparing for Europe’s new digital way of doing things. Part of the video conference included the EU leaders sharing their commitment for international digital taxation. The digital taxation is the foundation framework for the Organization for Economic Co-operation For the Development by the middle of 2021. The Commission’s levy will be released by January 1, 2023, at the very latest. Digitalization can change the way people communicate, live, and work. Digitization can create new jobs and develop new educational methods. Digitization can play a transformation in the European climate, society, and economy. Europe is working towards a digital identity.
Digitization in the European Marketplace
A digitized Europe will be able to link up the national and regional initiatives that would boost the investments through the strategic networks and partnerships. The European industry has become one of the many pillars of Europe’s economy. The manufacturing sector makes up for EU’s economy that is made up of 2 million different kinds of enterprises. Digitizing the European marketplace will improve business productive growth by 60 percent. Europe is on the threshold of a new business generation that creates a new way of using technology, including cloud storage, robotics, 3D printing, and more. The digital sector can contribute to the automotive industry, energy, security, research, technology, and more. On April 19, 2016, the European Commission launched the Single Digital Market Package. SDM package is the very first industry-related initiative. Digital Initiative Hubs are one-stop shops that are designed to assist new and established companies with many business needs.