The European Parliament`s budget negotiators and the Council Presidency have reached a compromise that sets out a political agreement on future EU funding. The German Presidency of the Council today reached a political agreement with European Parliament negotiators to seek Parliament`s approval on the next multi-year financial framework, the EU`s long-term budget. They want to reach an agreement at the European Council in the autumn of 2019. Under the agreement, financial interests are protected in accordance with the general principles set out in the EU treaties, in particular the provisions of Article 2 of the Treaty on European Union. On Tuesday, after ten weeks of intensive negotiations with the Council Presidency, Parliament`s budget negotiators agreed on the outlines of an agreement on the next multi-year financial framework (MFF 2021-2027) and on new own resources. The compromise must be approved by both institutions. On this basis, the European Council will hold an exchange of views in October 2019 with a view to reaching an agreement on the EU`s long-term budget before the end of the year. European Council: political agreement on the 2014-2020 -2021-2027 multi-year financial framework and the decision on own resources In its June 2019 conclusions, the European Council called on the Presidency to develop the MFF negotiating framework. On this basis, EU heads of state and government will exchange views in October to reach an agreement by the end of the year.
On 10 November 2020, the European Parliament and EU Member States reached a historic agreement in the Council on the next long-term budget and nextGenerationEU, the temporary recovery instrument. The agreement is now subject to Member States` approval, as well as other elements of the next multi-year financial framework and fiscal stimulus package, including the general conditionality regime for the protection of the EU budget, which the Council Presidency and Parliament`s negotiators provisionally approved on 5 November. This agreement was reached after intensive consultations with Parliament and the Commission, which have been ongoing since the end of August.