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1/
What EU leaders agreed at this European Council meeting #EUCO is truly historical.
The combined volume of EU 7-year budget #MFF and the package to mitigate the impact of Covid-19 #NextGenEU (€1.8 trillion) stands out the most.
Yet there are other important things to watch:
What EU leaders agreed at this European Council meeting #EUCO is truly historical.
The combined volume of EU 7-year budget #MFF and the package to mitigate the impact of Covid-19 #NextGenEU (€1.8 trillion) stands out the most.
Yet there are other important things to watch:
2/
It was one of the longest #EUCO meetings, equalling the one that negotiated the Nice treaty back in 2000.
After five exhausting days of negotiation, the deal reached by the 27 leaders increases the "own resources" directly collected by #EU institutions.
A small federal step.
It was one of the longest #EUCO meetings, equalling the one that negotiated the Nice treaty back in 2000.
After five exhausting days of negotiation, the deal reached by the 27 leaders increases the "own resources" directly collected by #EU institutions.
A small federal step.
3/
Most significantly, the #EUCO decided that for the new #NextGenerationEU, "the EU can borrow funds on the capital markets on behalf of the Union up to EUR 750 billion"
The arm wrestling ended in a split for 390bn in grants and 360 in loans to the 27. https://www.ft.com/content/713be467-ed19-4663-95ff-66f775af55cc
Most significantly, the #EUCO decided that for the new #NextGenerationEU, "the EU can borrow funds on the capital markets on behalf of the Union up to EUR 750 billion"
The arm wrestling ended in a split for 390bn in grants and 360 in loans to the 27. https://www.ft.com/content/713be467-ed19-4663-95ff-66f775af55cc
4/
While every leader will claim victory at this #EUCO, some have won more than others.
Rule of law conditions were dropped for the sake of
and
.
The "frugals"
got incresed their rebates (paybacks to budget contributions, legacy of Tatcher era).
Picture: @MehreenKhn
While every leader will claim victory at this #EUCO, some have won more than others.
Rule of law conditions were dropped for the sake of
and.The "frugals"
got incresed their rebates (paybacks to budget contributions, legacy of Tatcher era).Picture: @MehreenKhn
5/
Yet, something more important was lost in this #EUCO. Most of the thematic programs under the #NextGenerationEU were slashed.
@EPLO_ and other colleagues had already sounded the alarm before the summit about the #MFF EU budget implications:
http://eplo.org/wp-content/uploads/2020/07/EPLO_Letter-to-EU-MS-Re.-EUCO-President-Proposal-for-EU-MFF-2021-2027.pdf
Yet, something more important was lost in this #EUCO. Most of the thematic programs under the #NextGenerationEU were slashed.
@EPLO_ and other colleagues had already sounded the alarm before the summit about the #MFF EU budget implications:
http://eplo.org/wp-content/uploads/2020/07/EPLO_Letter-to-EU-MS-Re.-EUCO-President-Proposal-for-EU-MFF-2021-2027.pdf
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Other components under #NextGenerationEU were reduced to accommodate the bargain.
The climate-neutral transition fund (JTC) down from 30 to 10bn
Research funds Horizon Europe down to 5bn
10.5 bn for foreign policy and international cooperation agenda entirely SLASHED
Other components under #NextGenerationEU were reduced to accommodate the bargain.
The climate-neutral transition fund (JTC) down from 30 to 10bnResearch funds Horizon Europe down to 5bn10.5 bn for foreign policy and international cooperation agenda entirely SLASHED
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These cuts can have big consequences on the EU's role as a global player.
The #EUCO original proposal included:
- Additional €10 bn for humanitarian relief;
- Additional €5.5 bn as a complement for the neighbourhood, development and international cooperation objectives.
These cuts can have big consequences on the EU's role as a global player.
The #EUCO original proposal included:
- Additional €10 bn for humanitarian relief;- Additional €5.5 bn as a complement for the neighbourhood, development and international cooperation objectives.
8/
Although the EU comes relatively stronger out of this #EUCO, this milestone adds a toll on its internationaland humanitarian role.
This is a difficult start if
states want to preserve their global ambition.
We @CrisisGroup will keep looking at how they can do it better.
Although the EU comes relatively stronger out of this #EUCO, this milestone adds a toll on its internationaland humanitarian role.
This is a difficult start if
states want to preserve their global ambition.We @CrisisGroup will keep looking at how they can do it better.
