European leaders reached the historic agreement on the Recovery Fund and the EU Budget 2021-2027 at the end of a record negotiation that lasted four days and four nights. This is the longest summit in the history of the European Union. The Recovery Fund has an endowment of 750 billion euros, of which 390 billion in grants, non-repayable subsidies. The 2021-27 budget was set at 1.074 billion.
Italy limits the damages and loses, compared to the initial plan, only less than 4 billion of subsidies, reaching 81 and instead gains almost 40 billion of loans, with a total of 127 billion. Italy will be the first beneficiary, followed by Spain. The resources from the Eurobonds will arrive in the second quarter of 2021, but will also be used retroactively for the expenses covered starting from February 2020, since the epidemic began in Europe.
The governance agreement
On the thorniest issue, that of governance, an agreement was found: when a government presents its National Reform Plan, the Commission will decide within two months whether to promote it (taking into account a series of elements, such as digitization and environmental policies but not only), then a qualified majority vote will also come. In practice, a group of countries representing 35% of the population will be able to block the plan to obtain funding. A “mutilated” conquest for Rutte, as well as the emergency super brake that can be applied when compliance with the intermediate objectives is verified. The process can last no more than three months and the final word will always be up to the Commission. Dutch Prime Minister Rutte was pressing to give governance to the EU Council where a single head of state or government could have vetoed the development plans of individual states.
Conte during the press conference at the end of the European Council: "We will have a great responsibility, with 209 billion we have the opportunity to restart Italy with strength and change the face of the country. Now we have to run. We are satisfied: we have approved an ambitious and adequate recovery plan for the crisis we are experiencing. We have achieved this by protecting the dignity of our country and the autonomy of EU institutions.The Recovery fund is the priority and I hope it can help distract the morbid attention around the ESM ". "I underline and thank the support of all the ministers, the majority and the opposition, especially a part". “I especially thank the Italians,“ I am proud to be Italian ”.
Emmanuel Macron he speaks of "historical conclusions" of a "difficult summit" with "different visions of Europe". The German Chancellor Angela Merkel states that "Europe has shown that it is capable of opening new horizons in such a special situation. "
The President of the European Commission, Ursula von der Leyen, underlines how a "unprecedented package: the Recovery and Resilience Facility is established in a very clear way: it is voluntary, but those who access it must align with the European semester and recommendations to countries. Until now it was only up to the countries to respect them or not, but now the recommendations are tied to subsidies and potential loans. "
On Facebook the Minister for European Affairs, Enzo Amendola: “We reached a historic agreement after 4 days and 4 nights of tough negotiations. Selfishness and vetoes were putting Europe's future at risk, but Italy was determined ”.
So on twitter the European Commissioner for the economy Paul Gentiloni: "IThe infinite vertex is finished with an understanding. That on the NextGenerationEu plan is the most important economic decision since the introduction of the euro. For the Commission that proposed the plan, the most difficult challenge begins. Europe is stronger than its own divisions ”.
Satisfaction also for the President of the European Council, Charles Michel: "We did it. We have succeeded. Europe is solid, it is united.
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