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EU budget and recovery fund: Is it a done deal? [What Think Tanks are thinking]

Written by Marcin Grajewski,

© elenabsl / Adobe Stock

After nearly five days of tough negotiations, the European Council agreed on the EU’s next seven-year budget, the Multiannual Financial Framework (MFF), worth more than one trillion euros from 2021 to 2027, and crucially, on an additional 750-billion euro fund to help countries recover from the economic downturn caused by the coronavirus pandemic.

Many politicians and analysts have hailed the agreement on the recovery fund in particular as an ‘historic moment’. For the first time, some EU debt will be mutualised and the EU will tap financial markets on a significant scale to secure funds, which will be disbursed in the form of grants and loans. The European Parliament – which must approve these spending plans – welcomed the fund but criticised the lack of parliamentary scrutiny in its implementation as well as some of the cuts leaders made in spending on innovation and the climate as compared to the European Commission’s MFF proposals and the Parliament’s own demands, and regretted the weakened link between budget spending and the rule of law.

This note offers links to first reactions from international think tanks on the budget deal. Earlier publications on financing the EU can be found in a previous item in this series, published by EPRS on 8 June 2020.

The proof of the European Council pudding will be in the eating
European Council on Foreign Relations, July 2020

Next Generation EU standards will boost post-Covid-19 recovery
European Policy Centre, July 2020

With its recovery deal, is the EU finally starting to act like a unifying force?
Deutsche Gesellschaft für Auswärtige Politik, July 2020

Having the cake, but slicing it differently: How is the grand EU recovery fund allocated?
Bruegel, July 2020

Un accord historique à améliorer et à réaliser
Jacques Delors Institute, July 2020

The MFF’s half-empty glass on supporting EU rights and values
German Marshall Fund, July 2020

Europe’s expensive coronavirus summit
Carnegie Europe, July 2020

Is the EU Council agreement aligned with the Green Deal ambitions?
Bruegel, July 2020

Experts react: European leaders reach decisive coronavirus recovery agreement
Atlantic Council, July 2020

Is the European Union finally moving to an economic – not just a monetary – Union?
Trans European Policy Studies Association, July 2020

EU budget battle could undermine its international ambitions
Chatham House, July 2020

Spanish vs Dutch views on the EU recovery fund
Clingendael, July 2020

It is time to reform critical social protection policies in the U.S. and the EU
German Marshall Fund, July 2020

Longue vie au un plan de relance européen
Institut de Recherche et de Communication sur l’Europe, July 2020

Gipfel der Ambivalenz: Historische Ergebnisse, Machtverschiebungen und verpasste Chancen
Konrad Adenauer Stiftung, July 2020

The EU budget as an opportunity in the crisis
Stiftung Wissenschaft und Politik, July 2020

Recovery Fund, il freno di emergenza
Istituto Affari Internazionali, July 2020

European debt mutualisation
Jacques Delors Institute, July 2020

Read this briefing on ‘EU budget and recovery fund: Is it a done deal?‘ in the Think Tank pages of the European Parliament.

Read all EPRS publications on the coronavirus outbreak

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