EU special summit: The magic of the European project is alive and well

At the end missing 35 minutes. Order 6.06 PM on Tuesday at the special summit would be to re-structure plan and the EU budget 2021 to 2027 as the longest summit

EU special summit: The magic of the European project is alive and well

At the end missing 35 minutes. Order 6.06 PM on Tuesday at the special summit would be to re-structure plan and the EU budget 2021 to 2027 as the longest summit in EU history. The "title" is now more of the nice summit of 2000, when the "Treaty of nice" was decided. "Historically", is the agreement nevertheless, in this evaluation, you can speak to the French President, Emmanuel Macron, and the EU Commission President Ursula von der Leyen after this since Friday morning at 10 a.m., running a Marathon can hardly resist.

Hendrik Kafsack

economic correspondent in Brussels.

F. A. Z. Twitter

German Chancellor Angela Merkel put it in their own way sober: "We have found after a very long session with a good conclusion, I am very glad." Council President Charles Michel, We have shown all the more poetic: "the magic of the European project is alive."

The EU is entering new territory with this agreement, on a total of 1.8 trillion euros, a comprehensive package of 750 billion Euro comprehensive development plan and the almost 1.1 trillion euros is the regular EU budget for the years 2021 to 2027. For the first time, the EU will make the construction plan of large-scale debt. For the first time, you will give the money raised from the markets, as a grant to the States. You don't need to pay back.

"Real transfer payments"

the President of France on Tuesday morning, no doubt that he sees this as a turning point. For him, the agreement is to be incorporated, together debt, "under the European policy is signed with our joint signature", the entry into a new Era. The and the introduction of new own resources, the departure from previous fiscal policy, which is based on the fact that the member States financed the budget largely through national contributions and, accordingly, a reasonable return flow from the Brussels-based pots called to be. For the first time, it is to be a "real transfer payments".

Merkel looks to the pragmatic. And indeed, the decision about where the journey with the decision of the Corona package is actually not fallen, yet. "Extraordinary events require extraordinary methods," says the Chancellor, and stresses that the decision is also matured in her in front of the German-French Initiative for a 500-billion-Fund only slowly.

For it is the agreement is primarily a Signal of solidarity and ability to act of the EU. "We have set the course and at the same time in response to the biggest crisis since the Existence of the EU", says Merkel.

Rutte sets the "emergency brake" by

some quite painful compromises were necessary. Merkel and Macron had to realize at the end that grants in the amount of 500 billion euros, as at 18. May demanded, against the opposition of the "Thrifty Four" (the Netherlands, Austria, Denmark and Sweden) and Finland were not to enforce.

Updated Date: 21 July 2020, 05:19

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