The fate of the EU's green recovery is tied to the adoption of the EU's next long-term budget and covid recovery package - with 30% of the EU funds to be targeted at combatting climate change. Despite the Council and European Parliament having reached political agreement last week on key elements of the budget/recovery package, the final leg of the negotiations are still turning out to be rather painful. Meanwhile, the EU's net zero agenda is spinning its wheels...
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EU green recovery stuck in a loop
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Hungary and Poland blocked the approval of the EU’s seven-year budget and the recovery fund totalling €1.81 trillion, as both countries continued to oppose the rule of law mechanism attached to the EU funds. The veto – which could still be overcome at the level of EU27 national leaders – further complicates the arrival of the badly needed EU funds in hard-hit countries like Spain or Italy, at a time when the pandemic continues to spread across Europe and the reinstalled restrictive measures are hampering the recovery.
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