Recovery fund: Michel proposal confirms 750 billion

The President of the European Council, Charles Michel, proposes to keep the entity of the Recovery Fund intact, at € 750 billion, and to confirm the proportion between non-refundable transfers and loans, respectively 500 and 250 billion. Michel himself explained this by presenting the negotiating proposal to reach an agreement on the Recovery fund and the EU budget 2021-2027, at the summit of 17 and 18 July.

We propose "a European budget for 2021-2027 of 1.074 billion. And the reimbursements (a correction mechanism for the contribution) will be maintained for Germany, Austria, Denmark, Holland and Sweden". So the President of the European Council, Charles Michel, presenting the negotiating proposal to find an agreement on the Recovery fund and the EU budget 2021-2027. The 1.07% proposal is a compromise between 1.09% advanced in February and the request of the Frugal Countries (Holland, Denmark, Austria and Sweden) at 1.05%.