Deal reached on EU recovery fund
Germany’s representative says plan ‘important’ to cushion impact of pandemic
The European Union Parliament and 27 member states of the European Council are to examine and approve an agreement on a recovery fund package.
The agreement, reached by the German presidency of the Council of the European Union with European Parliament negotiators after 10 weeks of haggling, paves the way for reviving the bloc’s economy, hit hard by the COVID-19 pandemic.
“Negotiations with the Parliament took time, but we have finally made it, we have reached a political agreement on the last details of the EU’s next long-term budget,” said Michael Clauss, permanent representative of Germany to the EU. Germany holds the presidency of the Council of the EU during the second half of 2020.
“This is a well-balanced deal, which addresses the issues raised by the Parliament while respecting the guidance received from the European Council in July,” he said.
The European Council, which includes heads of state or government of member states, is the EU institution that defines the general direction and priorities of the EU. A separate body, the Council of the EU represents member states’ governments and is where ministers from EU countries meet to adopt laws and coordinate policies.
The 1.82 trillion euro ($2.14 trillion) recovery package negotiated by EU leaders in July includes a 1.07 trillion euro EU budget for 2021-27, also known as the multiannual financial framework, and a 750 billion euro temporary recovery fund, known as Next Generation EU.
“The conclusion of these negotiations means the European Recovery Plan can finally be activated,” said Johan Van Overtveldt, chairman of the Parliament’s Committee on Budgets, in a statement. “This fund is very important to get through the crisis, but it stands or falls with its use.”
He added: “The resources need to get to where they are actually needed.
Here, too, the European Union must prove its credibility.”
European Commission President Ursula von der Leyen said on Nov 10 that she welcomes the agreement. “We now need to move forward with finalizing the agreement on the next long-term budget and Next Generation EU by the end of the year,” she said in a statement.
“Help is needed for citizens and business badly hit by the coronavirus crisis. Our recovery plan will help us turn the challenge of the pandemic into an opportunity for a recovery led by the green and digital transition.”
At the 20th Meeting of the Council of Heads of State of the Shanghai Cooperation Organisation on Nov 10, leaders discussed new ideas and measures to jointly address the pandemic among other risks and challenges.
Based on China’s proposal, the summit issued a special statement on dealing with the pandemic. The statement said all parties agreed that they will support each other in fighting COVID-19, work together to build a stronger world health system, boost the potential of the World Health Organization and protect people’s lives and health.
In his video link speech, Russian President Vladimir Putin said: “We suggest not politicizing these processes, considering that people all over the planet are today in need of these drugs, without any exaggeration,” he said, noting Russia has already had two registered vaccines.
“Studies have already shown and confirmed that, firstly, these vaccines are safe and have no serious sideeffects after use, and secondly, they are all effective,” said Putin.
Russia’s vaccine efficacy was based upon data collated from vaccinations of the public, rather than ongoing trials.
Putin also said Moscow was ready to cooperate on coronavirus vaccines and agreed with Pakistani Prime Minister Imran Khan that the jab should be made widely available for all of humankind, TASS reported.
Throughout the world the pandemic is not easing. The COVID-19 cases in Italy exceeded one million on Nov 11.
Greece is under a nationwide curfew as of Nov 13. Total COVID-19 deaths in Britain rose above 50,000.