{"id":150741,"date":"2020-07-21T22:20:34","date_gmt":"2020-07-21T22:20:34","guid":{"rendered":"https:\/\/www.bnreport.com\/von-der-leyen-laments-regrettable-cuts-in-budget-accord\/"},"modified":"2020-07-21T22:20:34","modified_gmt":"2020-07-21T22:20:34","slug":"von-der-leyen-laments-regrettable-cuts-in-budget-accord","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/von-der-leyen-laments-regrettable-cuts-in-budget-accord\/","title":{"rendered":"Von der Leyen laments regrettable cuts in budget accord"},"content":{"rendered":"

To reach their agreement on a historic budget-and-recovery package, EU national leaders ended up making \u201cregrettable\u201d cuts to funding for some proposed programs and initiatives, European Commission President Ursula von der Leyen said Tuesday, even as she celebrated the overall deal.<\/p>\n

The Commission in May<\/a> put forward a proposal for a \u20ac1.1 trillion Multiannual Financial Framework (MFF) \u2014 the EUs financial blueprint running from 2021 to 2027. The European Council early Tuesday approved<\/a> a smaller, \u20ac1.074 trillion MFF.<\/p>\n

Among the items that saw their proposed funding cut were a major new health initiative the Commission had proposed in response to the coronavirus pandemic, as well as research programs. In addition, the heads of state and government discarded a proposed \u20ac26 billion \u201csolvency instrument\u201d that was intended to prop up viable companies now in danger of failing because of the crisis.<\/p>\n

\u201cNext Generation EU comes with a great responsibility and we are determined to bring about reforms and investment in Europe,\u201d von der Leyen said at the Council summits closing news conference, referring to the overall \u20ac1.82 trillion package by the name she chose for the landmark effort.<\/p>\n

\u201cNevertheless I must also mention a difficult point,\u201d she continued. \u201cIn their search for compromise, leaders have made far-reaching adjustments into the new MFF and Next Generation EU, for example, in health, migration, external action, InvestEU. They have not taken up the solvency instrument. This is regrettable.\u201d<\/p>\n

Von der Leyen warned the reductions imposed by leaders in order to reach an accord would impede efforts in Brussels to modernize the EU budget.<\/p>\n

\u201cIt decreases the innovative part of the budget even if more than 50 percent of the overall budget, MFF and Next Generation EU, will support modern policies,\u201d vonRead More \u2013 Source<\/a>
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politico<\/a><\/h5>\n

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To reach their agreement on a historic budg..<\/p>\n","protected":false},"author":1,"featured_media":150742,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"class_list":["post-150741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health"],"yoast_head":"\nVon der Leyen laments regrettable cuts in budget accord - Business News Report<\/title>\n<meta name=\"description\" content=\"To reach their agreement on a historic budg..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/von-der-leyen-laments-regrettable-cuts-in-budget-accord\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Von der Leyen laments regrettable cuts in budget accord - 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