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EU countries reach consensus in budget

European Union (EU) member country leaders, 1.8 trillion euro budget. They agreed on the rescue package prepared against the economic consequences of the new type of Coronavirus (Covid-19).

European Council President Charles Michel shared his social media account during the EU Leaders Summit held in Brussels. Leaders’ commitment to the EU’s 2021-2027 budget and the recovery program prepared against the economic consequences of the pandemic. “We can start practicing now and rebuild our economies,” said Michel, pointing out that they have “compromised.” used the expression.

Michel pointed out that the package in question will contribute to the environmentally friendly and digital transformation of the EU.

Opposing the “rule of law” principle of distributing EU funds, Poland and Hungary were blocking the rescue program with a future budget of 1.8 trillion euros in total.

The two countries vetoed the unanimous budget and rescue program package as they feared that this mechanism would used against them.

EU Term President Germany was holding negotiations between the parties to reach a consensus on this issue.

Written by Maraaz

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