A new condition mechanism will strengthen the protection of the EU budget as violations of the rule of law are equated with misuse of EU funds, reports TT.
"For the first time, we have established a mechanism that allows the EU to stop supporting governments that do not show respect for our values," said Petri Sarvamaa, Finland's Finnish negotiator - Member of Parliament for the Conservative National Coalition Party.
The agreement means, among other things, that measures can be taken against member states already if there is a "serious risk" of misuse of EU funds.
Decisions on the measures shall be taken by the Council of Ministers within one month, provided that there is support from a qualified majority of the Member States, in other words at least two thirds.
Must be approved by all EU countries
However, the agreement, which is part of the EU's protracted negotiations on a new long-term budget, must be approved by all EU countries and the entire parliament.
In addition, agreement is also required on the long-term budget itself, where the European Parliament has demanded more money for certain initiatives.
The EU's Heads of State and Government agreed last summer on a corona support package of as much as € 750 billion and the Union's next long-term budget, totaling € 1,074.4 billion for the years 2021-2027.
Negotiations have been ongoing throughout the autumn, in the hope that both the budget and the new rules on legal principles will be able to apply from the turn of the year.