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The implementation of "the virtuous triangle" through the recovery and resilience facility : Romania's experience
(National University of Political Studies and Public Administration - Department of International Relations and European Integration, 2024-06) Toderaș, Nicolae; Costăchescu, Alina
Over the past decade, the EU has notably reimagined the application of European funds to ensure they foster a conducive environment for coordinated investment stimulation, structured reform implementation, and the enforcement of responsible fiscal-budgetary policies. This framework, dubbed as the „virtuous triangle” by the European Commission (EC), has constructed an expansive conception of European public policy implementation over the past ten years. This case study delves into the application of the virtuous triangle approach via financial instruments crafted to counter the ramifications of the pandemic – specifically examining the Recovery and Resilience Facility (RRF). The RRF employs the European Semester (ES) to bolster and predetermined control mechanisms and set national priority agendas. The study further explores the resulting initial wave of institutional effects on Member States (MS) and provides an overview of Romania’s experience in formulating the National Recovery and Resilience Plan (NRRP).