European Union: Agreement over a Coronavirus Rescue Fund and the Multi-annual budgetary Framework.
Let’s not sulk the pleasure! An historic agreement has been extracted at the end of four long days and nights by the 27 Heads of State and Government. The main achievement is not to be found in who came out on top in the haggling or in the – apparently – muscular exchanges between the protagonists, but rather in the preservation of the essential features of the proposal elaborated by the Commission. Of course, one cannot but regret the strengthening of the regime of individual national rebates and the evisceration of any substantive content of the conditionality linked to the respect of fundamental European values in accessing the Coronavirus Rescue Fund (“CRF”); nevertheless, it is undeniable that the EU has…
Continue reading