EU leaders on Thursday agreed on a €1.8 trillion ($2.18 trillion) long-term budget and COVID-19 recovery package, the European Council president said.
The deal was reached at the EU leaders’ meeting in Brussels.
“Now we can start with the implementation and build back our economies. Our landmark recovery package will drive forward our green & digital transitions,” Charles Michel said on Twitter.
Meanwhile, Barend Leyts, Michel’s spokesperson said, the “rule of law conditionality mechanism have been adopted.”
EU leaders on July 21 agreed on spending €1.82 trillion ($2.08 trillion) for the period of 2021-27, which includes the €750 billion ($857 billion) recovery instrument to help relaunch the European economy after the COVID-19 crisis.
But Hungary and Poland blocked the deal, rejecting the proposal to link access to EU funding with adherence to the rule of law.
EU Term President Germany was negotiating between the parties to reach a consensus on the issue.
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