The COVID-19 epidemic has shaken the world's economic situation. All countries are engaged in an effort to bring economic conditions back on track. This Central European Commission has introduced some policies using which countries can fix their economic conditions and move forward. The most powerful and senior officer of the same European unit, Ursula Von Der Leyen, said the European unit would have to increase its emission reduction objective to at least 55 percent by 2030.
61-year-old Fon Dey Laen took over as chair of the European Commission last year. Earlier she was the Defense Minister of Germany. Fon Dey Laine, who hails from the German Chancellor Angela Merkel's CDU party, has been a physician by profession. The same strategy he has introduced to recover the worsening economic situation during the COVID-19 threat is being called "Green New Deal". In his speech in front of European MPs in Brussels, he said that I believe that increasing the objective from 40 per cent to 55 per cent would be too much for some individuals while it is not suitable for others.
He further said that our assessment shows that our economics and business are capable of doing so. He also suggested that 30 per cent of the European unit's 750 billion euro COVID-19 virus recovery package should be raised through green bonds. Green bonds are financial tools through which money is raised for eco-friendly projects. The European unit was approved in July on an incentive strategy.
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