Hungary and Poland have made it clear that they cannot approve the EU’s seven-year budget and economic recovery fund because of the decision to create a mechanism to monitor adherence to the rule of law in community countries. This was announced to journalists Thursday by German Chancellor Angela Merkel at the end of the EU summit, which was held by videoconference.
Merkel believes that this alone is not yet a cause for concern. At the same time, the politician pointed out that for many EU states, the draft seven-year community budget for 2021-2027, the plan for recovery from the pandemic and the mechanism for monitoring compliance with the rule of law “are a single package.
EU heads of state and government discussed the agreement on a multi-year financial plan by videoconference on Thursday, November 19, but a decision on the plan should be made later. A high-level source in the EU said so.
According to him, a videoconference is not a suitable format for discussing such a complex problem. The representative also said that European leaders are aware of the gravity of the situation and intend to reach agreement on the issue as soon as possible.
Earlier, representatives of the German presidency of the Council of EU countries and the European Parliament as a whole agreed on a draft seven-year budget of the Union for 2021-2027 for € 1.07 trillion and a plan to restore the economy after the coronavirus pandemic for € 750 billion.
In this case, for the final approval of the budget, it must be approved by all EU countries. November 16, the Hungarian and Polish authorities vetoed a new draft budget of the European Union (EU) for 2021-2027. The reason these countries blocked the project was to incorporate the principle of the rule of law, which is the independence of justice, as well as respect by countries for common human rights.
The final version of the seven-year EU budget plan was approved at a summit on 17-21 July in Brussels. It envisages spending of €1.07 trillion between 2021 and 2027. The amount of extrabudgetary funding from the EU is €750 billion.