In a formal intervention on Monday, directed at European Commission Vice President Roberto Fito and Executive Vice President Valdis Dombrovskis, Farantouris underscored the RRF’s critical role in bolstering EU cohesion and reducing regional and social inequalities. However, he cautioned that the mechanism’s success hinges on resolving major roadblocks, including tight deadlines, administrative inefficiencies in member states, a lack of transparency, and inadequate engagement with local authorities and civil society.
Farantouris stressed the urgent need for new EU own resources to guarantee the repayment of the common debt issued to finance the RRF. He echoed concerns raised by the European Court of Auditors over the management of specific funds, particularly those earmarked for climate-related initiatives.
A key issue in his address was transparency in fund allocation. Farantouris criticized the absence of public disclosure requirements for contractors and subcontractors receiving EU funds, warning that this loophole undermines financial accountability. "Without full transparency, we risk eroding public trust in the system," he stated.
While acknowledging the RRF’s contribution to narrowing economic disparities across the EU, Farantouris urged accelerated implementation of the European Pillar of Social Rights, a framework designed to strengthen employment, education, and welfare policies. He noted that this initiative is falling behind other EU priorities and requires renewed focus.
Looking ahead, Farantouris proposed the creation of a permanent EU funding mechanism—one that would not only serve as a crisis-response tool but also support Europe’s long-term economic and social development goals.
