In-depth talks between the European Parliament, the Council of the European Union and the European Commission on the Multiannual Financial Framework (MFF), the EU’s next long-term budget, and the recovery plan are expected to begin in mid-August.

In their phone call, European Commission President Ursula von der Leyen, European Parliament President David Sassoli, and German Chancellor Angela Merkel welcomed the results of the special meeting of the European Council on 17-21 July: an agreement on the seven-year budget amounting to €1.074 trillion, and a €750-billion recovery fund to combat the economic effects of the COVID-19 pandemic.

On 29 July, the Council gave its green light for further talks between the German Presidency and the European Parliament, which was an important step towards finalising the EU’s future budget by year’s end. An ambitious timetable for the upcoming negotiations is needed so that European programmes can enter into force as planned in January 2021, the three leaders agreed. They will all closely follow the upcoming negotiations.