"Magic of the European project" or "bitter agreement": the front pages of European newspapers after the recovery plan

After four days and nights of a marathon summit, the Twenty-Seven have managed to agree on an ambitious stimulus fund of 750 billion euros with the creation for the first time of a common debt. An ambition carried by the Franco-German couple since last May, which has aroused opposition from so-called " frugal " countries.

Read also: European agreement: the delicate equation of reimbursement

The 750 billion euro stimulus fund is primarily focused on a 390 billion euro program of subsidies to Member States most economically weakened by the crisis. This sum will then have to be repaid jointly by the Twenty-Seven by 2058 at the latest. In addition, 360 billion euros will be made up of more traditional loans, which the borrowing States will have to repay individually.

The day after the announcement, Le Figaro gave an overview of the European dailies on the European post-coronavirus agreement.

Germany: " the magic of the European project is alive "

Across the Rhine, Germany, which signed the agreement with France in May, is unsurprisingly showing great enthusiasm. " The magic of the European project is alive ", headlines Frankfurter Allgemeine Zeitung. The German liberal daily, however, evokes " a painful compromise " concerning the initial Franco-German ambition to quantify the subsidies at 500 billion euros.

The regional center-left daily Berliner Zeitung welcomes a “ historic ” compromise despite regulations that are too “ vague ”. “ Initially, a right of veto for each member country was discussed. The current compromise no longer provides for this. Under the new regulation, a majority of 55 percent of EU countries (17 out of 27 countries) with 65 percent of the total population would be required to file a complaint. In practice, this seems unlikely, ”criticizes the daily about the control of payment of aid.

One of the German daily Berliner Zeitung Wednesday 22 July. Berliner Zeitung.de

Italy and Spain satisfied

Many Italian dailies hailed a " historic compromise ", while regretting the concessions made to frugal. Very weakened by the health crisis, the country expected a lot from this agreement. In Italy, Il Manifesto evokes " a victory for Angela Merkel ", despite the fact that the Chancellor herself spoke of " painful concessions ". For his part, Il Fatto Quotidiano speaks of a victory for Giuseppe Conte: " The Italian president of the council, and his allies, have won the game ", writes the Italian daily. But "the cuts in subsidies granted to" frugal "countries" left a bitter taste in the center-left Italian daily, La Repubblica.

The most widely distributed Italian daily in the country, Corriere della will regret the standoff between the various European countries. The center-right daily, however, highlights the many advantages of the agreement for the country. " Italy is going home with around 208.8 billion, including 81.4 billion in transfers and 127.4 billion in loans ."

The front page of the Italian daily Corriere della will be Wednesday 22 July. Corriere della will be

Another country in southern Europe which should greatly benefit from the agreement, Spain has fully expressed its joy. The famous daily El Pais evokes “ one of the great moments of Community Europe. Comparable, because it has just rebuilt it, with other key crossroads such as its own creation in 1957 and with the launch of the single currency in 1998/2000 ”.

The front page of the Spanish daily El Pais on Wednesday 22 July. El Pais.com

A " bitter-tasting accord " for the " frugal "

As for the so-called “ frugal ” countries (the Netherlands, Austria, Denmark and Sweden, the tone is quite different. Reactions are mixed among the Austrians, who speak of a “ bitter-tasting agreement .” The daily Die Presse judges that the " compromise " found can satisfy the member countries of the EU, despite the " setbacks " inflicted, according to him, to budgetary austerity and the fight against climate change.

The front page of the daily die Presse of July 22 Die Presse

Read also: European recovery plan: how will countries be able to access funds?

In the Netherlands, a figure of skepticism with Prime Minister Mark Rutte, people are worried about the “ vague ” conditions for controlling the payment of subsidies. The mistrust of Prime Minister Mark Rutte, a figure in the opposition to the European recovery plan, is thus deemed " justified " by the conservative tabloid De Telegraaf. " Mark Rutte's struggle in Europe was not beautiful, but it was understandable, " writes the daily De Volkskrant, which regrets " the weak guarantees offered " on the national reforms requested to obtain the subsidies.

European divisions which " persist ", for the British

Across the Channel, our British neighbors, now freed from Brussels, emphasize the “ divisions that persist ” in the European Union, referring in particular to the 92 hours of “ tense negotiations ” which were necessary to reach a compromise. The very conservative The Daily Telegraph is even ironic with pencil strokes, illustrating the German Chancellor and the French President who are trying to hide the faults of the Union with the help of numerous banknotes.

Read also: Post-Brexit trade agreement: the idyll between London and Washington is a distant memory

On the left of the British political spectrum, the famous daily The Guardian evokes " a lack of confidence between European leaders ", who should ultimately not " rejoice ". " The confrontation between the 'frugal' and countries that doubt the rule of law highlights the acrimony at the heart of the union, " writes the media on its site.