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Many leaders, including Commission President Ursula von der Leyen and Council President Charles Michel, have cited a need to reach a deal as quickly as possible, given the giant economic shock of the pandemic and that the EU's new budget must start on January 1.But in a Commission summary of the mini-summit on Wednesday evening, leaders expressed heightened urgency.
Wednesday's high-level discussion itself was a victory for European Parliament President David Sassoli, who demanded the session take place. He has been pushing hard to remind other EU leaders that the Parliament must also approve the budget deal, and to assert a role for the chamber in a process that has traditionally focused on backroom horse-trading between prime ministers and presidents.
The Commission has said that such revenues would make it much easier to pay for the central component of the proposed recovery effort — a plan for EU countries to take on €500 billion in joint debt in order to disburse grants to EU countries in need of help.
To Brexit, or to shelter in place? Having watched America’s foreign policy & trade deals blunders the last four years, Britain would be wise to stay in the EU.
endless bailouts Germany is spending billions for its dream of united EU Just too costly Brexit is smart
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