EU strikes Compromise agreement with Hungary and Poland over next long term budget
Business groups welcome long-awaited deal, but critics call ‘rule of law’ compromise a ‘capitulation’.
Adobe Stock
11 Dec 2020
The compromise, on the long-term EU budget and the Next Generation EU recovery instrument was brokered by Germany, the current holder of the rotating EU Council Presidency, and was endorsed at an EU summit late on Thursday.
Hungary and Poland said earlier on Thursday they would lift their veto of the €1.85 trillion budget and Coronavirus recovery plan if the German-led deal was agreed by other EU members.
Both central European states were initially angry that future EU funding would be conditional on respect for the “rule of law.”