Helping EU economy to rebound

Von der Leyen, Merkel, Michel and Sassoli said swift deal on recovery package is the highest priority

Photo: EU David Sassoli, Charles Michel, Ursula von der Leyen and Angela Merkel.

The future of the EU financing and economic recovery dominated the agenda of the first day of the EP session in Brussels, where German Chancellor Angela Merkel came in person, which was her first trip after the pandemic outbreak, to present the main tasks of the country’s Presidency of the Council that started on 1 July. At the discussions on the MFF and New Generation EU the floor took as well EC President Ursula von der Leyen and European Council President Charles Michel. 

At the discussions on the MFF and New Generation EU the floor took as well EC President Ursula von der Leyen and European Council President Charles Michel.

Most lawmakers voiced the vision that the Commission’s proposals for the €750bn recovery fund and a revised 2021-2027 common budget are the bare minimum that is acceptable for Parliament.

On the same day, EC President von der Leyen received the Presidents of the European Parliament, of the Council of the EU and of the European Council, in order to take stock of progress in the discussions regarding the next Multiannual Financial Framework and NextGenerationEU, and prepare the intensive interinstitutional negotiations that lie ahead.

The four leaders analysed the economic forecasts for the coming months that point to a severe recession and noted that the crisis will have deep social impacts across the European Union. Reaffirming their strong commitment to do everything in their power to mitigate these social impacts and to help the European economy rebound rapidly, they concurred that reaching swiftly an agreement on an ambitious European recovery package is the EU's highest priority for the coming weeks.

They accented on the need of strong coordination between the EU institutions, at each stage of the process, as well as swift ratification of the key elements according to each Member States’ constitutional provisions.

The leaders discussed the timetable of the forthcoming negotiations and the next steps in the process and President Michel provided updates on his bilateral discussions held with the leaders of EU27 and on preparations for the European Council meeting on 17-18 July.

It would be essential that heads of state and government reach agreement during this European Council meeting in order to allow for the interinstitutional negotiations to start, the four presidents agreed. The EP President presented in the discussion the main conditions of the Parliament for its approval.

Von der Leyen, Merkel, Michel and Sassoli committed to stay in close contact throughout the coming weeks and months. The EC President expressed her intention to reconvene meetings under article 324 of the Treaty, “as appropriate”, at key stages in the discussions.



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