Commenting on the conclusions of the 17-21 July EU summit, EP negotiators welcome the recovery fund but warn that their agreement to the long-term EU budget cannot be taken for granted.

After five days of intense discussions, the Heads of State and Government reached a political compromise. Parliament’s negotiating team on the Multiannual Financial Framework (MFF) and Own Resources (OR) welcomes the fact that at last a common position has been achieved, and that the newly created Recovery Instrument (Next Generation EU) is financed with a borrowing of EUR 750 billion. But Parliament remains critical on some essential aspects of the compromise, particularly on the long-term perspective. 

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