Budget Agreement Details

“The budget, the reconstruction fund, new revenues and conditionality to the rule of law are a package for us,” Siegfried Muresan, a centre-right MEP from the European People`s Party (EPP) told Reuters news agency. Hungarian Prime Minister Viktor Orban sent a letter to the European Commission and the President of the EU Heads of State and Government, Charles Michel, threatened to veto the €1.1 trillion budget if the link between money and the rule of law was not broken. “The budget, the reconstruction fund, new revenues and the conditionality of the rule of law are a package for us,” said Romanian MEP Siegfried Mureşan, vice-president of the European People`s Party group. “Parliament will only ratify today`s agreement if member states respect all parts of the agreement.” Pence told CNBC that the deal reached this week by the Republican government would keep the government funded at the end of the month fiscal year and pave the way for a new coronavirus relief law. “Parliament will only ratify today`s agreement if member states respect all parts of the agreement,” he said. “We pushed hard,” said Amash, who voted against the budget deal on Thursday. “Frankly, there is not much hope for this system with these two parties.” Member States and MEPs are the last obstacle to the EU`s next long-term budget. EU Council Presidency spokesman Sebastian Fischer called the deal a “market for Europe”. The budget negotiated since the end of August by negotiators from the EU Parliament and Council under the German Presidency amounts to an additional €12.5 billion for programmes such as horizon Europe and €2.5 billion in cash funds diverted for such programmes. Following the Commission`s development of budgetary plans, the Council of Ministers in July proposed an amount of €1.07 trillion for 2021-27 and approved the €750 billion Covid reconstruction fund proposed by the Commission, called Next Generation EU. .

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