EU leaders finally reached a compromise on the EU’s next budget and the recovery fund „Next Generation EU”, together amounting to €1,8 billion. EU leaders had originally agreed on the deal in the summer. However, in recent weeks, Poland and Hungary had threatened to veto the deal over its „rule of law mechanism”, which the European Parliament had strongly insisted on. A compromise involving an explanatory note and more liberal deadlines for the application of the mechanism finally led to a breakthrough. Commission President Ursula von der Leyen said the agreement „underlined Europe’s ability to come together and act” in the face of the „worst crisis” the bloc has faced. (Source: eureporter)
The European Commission has prolonged for two years the validity of several EU State aid rules applicable in the agricultural, forestry and fisheries sectors, which would otherwise expire at the end of 2020. This includes an extension, until 31 December 2022, of the EU Guidelines for State aid in the agricultural and forestry sectors and in rural areas, the Block Exemption Regulations applicable to State aid in the areas of agriculture, forestry, fishery and aquaculture, as well as the Regulation on de minimis aid for fishery and aquaculture.