He added that the Spanish plan already included measures on cybersecurity, for instance, and that other countries have invested in crisis readiness.
Time is running out
But for countries wishing to redirect funds, time is getting tight. Governments must prove they have achieved agreed targets in order to receive the funds — and several are late.
For months, countries such as Italy and Spain, the top beneficiaries of the funds, have lobbied to postpone the 2026 deadline. The EU executive is firmly rejecting the idea, which would imply extending the possibility for the Commission to borrow money on the markets and would require a deal among governments and ratification by 20 parliaments — with the risk of a complete stall, an EU official said.
“So this is not only not a good idea, it is also extremely costly and very dangerous,” the official said.
The Commission suggests countries ensure that the planned investments are feasible or else “replace them with things that are feasible,” the official said.
The EU lists many options for countries to secure the funds in a communication published on Wednesday, including using funds to inject capital into national promotional banks or transferring them to the EU program for investments, InvestEU.