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We did it! Socialists and Democrats secure the next 7-year budget of the EU


10 Nov 2020


Euro & Finance

After months of tough negotiations, the S&D team managed to secure a deal for the next multi-annual budget of the European Union (MFF). Last week, S&Ds had succeeded in creating a satisfactory compromise on the rule of law conditionality. Today’s outcome paves the way to a progressive EU budget, in which citizens’ programmes and priorities will continue to have sufficient funding.

Iratxe Garcia, S&D Group president, stated:

“This is a historical achievement. For the first time since we have the Multiannual Financial Framework the Parliament managed to raise the amount initially agreed by the Council of the EU. This is very good news because we are living a historic crisis and it needs historic decisions.

“After the agreement on the rule of law mechanism, this deal on the next 7-year budget opens the way to finalise the approval of the Recovery Package. Our citizens are waiting for it and we must all do our utmost to have it in place by 2021.

“The European Parliament delivers on its promises, and no government should hijack our citizens’ chances for a fast recovery. I expect the EPP to secure the support among their governments for this deal, to stand by the rule of law mechanism and a reinforced EU budget.”

Eider Gardiazabal, S&D spokeswoman on budget, said:

“These are momentous times in the history of our Union. And I am pleased to say that the S&Ds’ negotiating team has lived up to expectations. What we have achieved is nothing short of an ambitious, progressive, people-centered multiannual budget for the EU. We have managed to fight for our 15 flagship programmes, to make sure no beneficiaries are left out once the new 7-year budget sets in. We have managed to secure financing for the Green Deal and for a just transition. We have managed to stand up for the people, despite setbacks and opposition, putting an S&D stamp on this budget that is now greener, fairer and more socially just.

“Faced with the challenges of this pandemic, we had no other choice but to fight for a sufficient budget. We also had to fight for the proper means to finance it. This is why I am grateful that we have achieved a strong roadmap for the introduction of new, European, own resources. We now have all the tools we need to get Europe out of the crisis and into the future. We count on all members of the European Parliament and on all member states to act responsibly and endorse this budget.”

Margarida Marques, S&D negotiator, said:

“The Recovery Fund approved for Europe in July is crucial for our collective recovery. However, when it comes to the Multiannual Financial Framework there was still some room for improvements since the future of Europe was at stake. Since day one, the European Parliament has strived and worked constructively in order to deliver stronger long-term policies to Europeans! A budget with reinforced policies that will last and serve future generations beyond the pandemic and the crisis.

“Once again, S&Ds have delivered! We have challenged for the first time the long-term budget agreed by the European Council, and we have achieved a higher MFF than the current one. We have more money to protect citizens against the pandemic (Health Union and Horizon Europe), to invest in the next generation (Erasmus, Creative Europe) to protect EU Rights and Values and to promote international solidarity (NDICI, Humanitarian Aid).

“We now have a roadmap for the introduction of new own resources of the Union’s budgets, crucial for the repayment of the recovery expense. Own resources aligned with the Union’s long-term political priorities such as a Greener Europe and the transition to a digital society, or a fairer society in a financial transaction tax, come all in time for the beginning of the repayment.

“Last, but not least, the European Parliament comes out stronger playing a role in the Next Generation EU as a budgetary authority, reinforcing values precious to us all like transparency and democratic accountability.”