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Snapshot: What’s the deal with the EU long-term budget?

symbol of european union on banknote

Some of us might have heard of the recent EU budget negotiations due to the generous recovery fund for nations worst affected by the pandemic. However, as the budget awaits the approval of the European Parliament, certain issues are being raised about how short-sighted the deal is.  

Due to the Covid-19 recovery fund some EU programmes are facing cuts, such as Eurasmus+ or Green Deal. The former is a crucial education and training programme for young people, allowing them to gain the experience and skillset to enable to pursue a professional career.  

Members of the European Parliament are not in favour of cuts being made to these future-oriented programmes because that will undermine the foundations of a sustainable and resilient recovery. Another issue with the current deal is the lack of focus on recovery instrument repayment plan. It remains to be seen if the budget will get Parliamentary approval.

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