Next multiannual financial framework and recovery package: Council presidency reaches political agreement with the European Parliament |
The German presidency of the Council today reached a political agreement with the European Parliament’s negotiators in talks aimed at securing the Parliament's consent to the next multiannual financial framework, the EU’s long-term budget. The agreement has been reached following intensive consultations with the Parliament and the Commission that have been underway since the end of August. It complements the comprehensive financial package of €1 824.3 billion negotiated by EU leaders in July, which combines the next multiannual financial framework – €1 074.3 billion – and a €750 billion temporary recovery instrument, Next Generation EU (in 2018 prices). The political package agreed with the Parliament includes:
The deal will now be submitted to member states for endorsement together with the other elements of the next multiannual financial framework and recovery package, including the general regime of conditionality for the protection of the Union budget, on which the Council presidency and the Parliament’s negotiators reached a provisional agreement on 5 November. "Negotiations
with the Parliament took time, but we have finally made it – we have
reached a political agreement on the last details of the EU’s next
long-term budget. This is a well-balanced deal, which addresses the
issues raised by the Parliament while respecting the guidance received
from the European Council in July. We are now in a position to take the
next crucial steps in the process – submitting the different parts of
the package to the member states and the Parliament for endorsement.
Europe has been hit severely by the second wave of the coronavirus
pandemic. We urgently need the recovery fund up and running in order to
cushion the dire economic consequences of the pandemic. I hope that
everyone understands the urgency of the situation and will now help to
clear the way for the swift implementation of the EU budget and recovery
package – no one needs new hurdles and further delays." |
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