EU Summit Reaches Agreement On Budget With Hungary And Poland

The EU summit reached an agreement with Hungary and Poland, which had previously vetoed a budget plan from 2021 to 2027, as well as a plan to distribute €750bn from the economic recovery fund, European Council President Charles Michel said. He did not specify under what conditions the agreement was reached.

« We can now start implementation and rebuild the economy. Our landmark support package will push forward the transition to green and digital, » Mr. Michel wrote on Twitter.

Earlier, Hungary and Poland vetoed the financial documents in protest at the EU’s rule of law mechanism. Before the summit, German Chancellor Angela Merkel said that Germany in its position of the EU presidency had « worked hard to iron out differences and find solutions to Poland and Hungary’s concerns » (quoted by Reuters). At the same time, she said she was sticking to the mechanism.

Polish Prime Minister Mateusz Morawiecki said the EU agreement was a « double victory » and Poland had not conceded a single provision previously agreed with Hungary. « First, the EU budget can come into force, and Poland will receive 770 billion zlotys (about $211 billion) from it. Secondly, this money is safe because the conditionality mechanism was restricted by very precise criteria. Today’s conditions block the possibility of changing these rules in the future against Poland, » Mr. Morawiecki wrote on Facebook.


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