Videoconference of EU Leaders Leaves Room for Further Actions in Managing COVID-19 Crisis
The heads of the European Council (EC) member states met on Friday via a video link to reach a consensus on the COVID-19 recovery plan and a new long-term EU budget, however, due to little progress many issues will have to be readdressed during a July summit in Brussels to focus on concrete steps, the EU institution said in a statement
BRUSSELS (Pakistan Point News / Sputnik - 19th June, 2020) The heads of the European Council (EC) member states met on Friday via a video link to reach a consensus on the COVID-19 recovery plan and a new long-term EU budget, however, due to little progress many issues will have to be readdressed during a July summit in Brussels to focus on concrete steps, the EU institution said in a statement.
On May 27, European Commission President Ursula von der Leyen revealed a new recovery instrument, dubbed Next Generation EU, worth 750 billion Euros ($826 billion) to support the bloc's economy amid the COVID-19 pandemic. It came along with the proposal that the European Union's budget for 2021-2027 amounts to 1.1 trillion euros. According to European Council President Charles Michel, the creation of Next Generation EU "will help target support" for the regions and sectors in Europe most affected by the COVID-19 pandemic.
Friday's summit was the fifth videoconference of the members of the European Council on the EU's response to the COVID-19 outbreak, attended by Michel, von der Leyen, and the president of the European Central Bank, Christine Lagarde, among other prominent EU figures.
"We had today the occasion to have this video conference at the level of the European Council. And as you know, the main topic was the MFF (Multiannual Financial Framework) and the Recovery Fund. It was the first occasion to discuss at the level of the leaders the proposals put on the table by the Commission, the MFF and the Recovery Fund. It was the occasion to observe that on different points there is an emerging consensus, which is very positive.
But at the same time, we don't underestimate the difficulties. And on different topics we observe that it is necessary to continue to discuss," Michel said, as cited by the statement.
The EC president added that he was ready to start the talks immediately and would convene an in-person summit, around mid-July in Brussels to take further actions.
"We are aware that it is essential to take a decision as soon as possible," Michel said.
According to von der Leyen, the Next Generation EU summit is planned for July 15, which will be decisive in managing the emerged crisis.
"The severity of the COVID crisis needs an ambitious common response. We intend to have it before the summer break. It will focus on green and digital dimensions. I am sure we will emerge stronger from this crisis," von der Leyen said at the end of the summit.
The EU's problems have become direr amid the ongoing COVID-19 pandemic, which could see the eurozone economy contract by up to 12 percent this year, according to leading figures from the European Central Bank.
On May 15, the European Parliament stated that the EU Recovery Fund, which must be made part of the new budget, must amount to no less than two trillion euros ($2.2 trillion).
The bulk of the global COVID-19 cases have been reported on the European continent. On Friday, the European Centre for Disease Prevention and Control announced that 1.5 million cases of the disease have been reported in the EU, countries of the European Economic Area and the United Kingdom.