EU parliament wants tweaks in recovery plan

brussels — The European Parliament will push for more of the EU recovery package to be spent on research and development, health and education and for a clearer link between economic aid and observing the rule of law, deputies said on Thursday.

In their first debate on the agreement struck by EU leaders on a €750 billion pandemic stimulus and a common 202127 budget of €1.074 trillion this week, many members of the EU assembly said they would fight for changes.

The European Parliament has to approve the spending plan over the next several months, before it can become reality and help lift the EU economy from recession.

“I am happy about the agreement but I am not happy about the deal,” said Manfred Weber, who leads the biggest, centre-right parliamentary group, EPP.

“We think the MFF [the long-term budget] is not giving proper answers to the challenges of the next seven years. It has to be more future oriented,” he said. He and leaders of other parliamentary groups said more money was needed to develop a stronger European coastguard, for health protection, research and development as well as defence and development aid for Africa and for other EU neighbours.

German consumer confidence soars

Meanwhile, German consumers are in the mood to shop as they head into August, a key survey said on Thursday, crediting the government’s coronavirus stimulus efforts with lifting morale.

The GfK institute’s forward-looking barometer climbed to -0.3 points, the third monthly increase in a row and a large jump on July’s figure of -9.4.

Consumer confidence has been rising steadily since Europe’s top economy emerged from lockdown in May and is fast catching up to pre-pandemic levels. —