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EU Funding: Extended Financing row in COVID-19 spotlight as talks Restart

Internal discussions are ongoing on Monday within the European Union’s long-term funding, amid rising pressure on the bloc’s major associations to repay on a row putting into jeopardy the struggle against the coronavirus pandemic.

The discussions about the funding for 2021–2027 — that include the European Parliament, the Council, and the Commission — come amid a long-running dispute involving nations and MEPs around spending.

After much wrangling, European leaders eventually agreed in July about the sum the EU could spend on the next seven decades. This was put in $1.8 trillion — of that $750 billion is to get the coronavirus retrieval fund, otherwise called Next Generation EU.

The remaining portion of the cash, $1.074 trillion, constitutes the EU’s long term funding – the Multiannual Financial Framework (MFF).

However, MEPs are locked in a struggle with the European Council, composed mostly of national leaders in the EU’s member nations, overspending amounts. It has threatened to maintain funding allocated to the struggle against the pandemic as it ravages the continent.

The European Parliament was calling for an additional $39 billion for programs in areas like climate change, health, study, and Erasmus student trades. In September it printed an inventory of 15 EU flagship programs it had been encouraging.

At the end of October, one French socialist MEP stated that he had been going on a hunger strike within the struggle for more funds.

In individual discussions, an agreement was reached a week over among the obstacles to a bargain: linking EU financing for member nations to respect for the principle of law.

MEPs insisted on creating funds transfers conditional upon adherence to democratic principles, human rights, and the independence of the judiciary.

Under the new mechanics, subject to final acceptance, individual EU nations can lose their sanity and also have funding cut if the vast majority of other member countries back such a movement.