Council of Europe, "Agreement on Recovery Fund reached"

Charles Michel

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10 December 2020 The President of the European Council, Charles Michel, announced that the Twenty-Seven have reached an agreement on the EU budget 2021-2027 and, consequently, on the last steps to adopt

.

This will allow the green light to increase the ceiling of the Union's own resources which constitute the guarantee for the bond issue of

(for subsidies and anti-crisis loans to States).

L '

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The green light also concerns the compromise reached between the German presidency of the EU and the Poland-Hungary couple on the conditionality of European funds in relation to compliance with the rules of the rule of law.

An EU source indicated that the text of the Council's draft conclusions on the compromise has not changed.

Therefore, the budget and the anti-crisis operation can start from January 1, 2021. The first disbursements of Next Generation EU are expected not before the beginning of the summer.

"Europe moves forward. Agreement on the next EU budget and Next Generation EU: 1.8 trillion to fuel our recovery and build a more resilient, green and digital EU. Congratulations to the German Presidency of the Council", writes on Twitter the President of the Commission,

, after the agreement reached at the Summit of Leaders.