This proposed supply agreement with the EU would represent the largest first vaccine dose order for Pfizer and BioNTech to date (the July deal with the U.S. government includes 100 million initial doses for $1.95 billion, with the option of an additional $500 million). On 10 November 2020, the European Parliament and EU countries reached an agreement in the Council on the next long-term EU budget and NextGenerationEU. This agreement will strengthen the specific programmes by a total of €15 billion under the long-term budget for the period 2021-2027. “We succeeded. Europe is strong, Europe is united. It`s a good deal, it`s a strong deal and, most importantly, it`s the right deal for Europe right now,” Michel said. “I think this agreement is seen as a crucial moment for Europe`s journey.” After record discussions, EU heads of state and government have agreed on a coronavirus reconstruction plan EU countries are struggling to coordinate a response to the coronavirus pandemic that has killed an estimated 135,000 people on the continent. The bloc`s economy is expected to contract by 8.3 percent this year.
The agreement was reached at the same time as the agreement on the Bloc`s next seven-year budget, worth around €1.1 billion. The EU Replenishment Fund, which has received €390 billion in grants and €360 billion in loans. It is linked to a new seven-year budget of €1.074 trillion, the Multiannual Financial Framework (MFF), on which the Heads of State and Government also agreed, bringing the total financial package to €1.82 trillion. “Last night, after long negotiations, we found a way to find a possible agreement,” German Chancellor Angela Merkel said. This is a step forward and we hope to reach an agreement. “You needed an agreement on the Reconstruction Fund to show that together you are able to deal with all the multiple consequences of this crisis. Imagine for a minute that we did not have this agreement. That would have made the situation worse. This would have created a lot of uncertainty, and we know that in times of crisis, insecurity is a poison for economic recovery. With the coronavirus pandemic still raging around the world and cases picking up in some EU countries, some heads of state and government feared that the failure of a deal would lead to a fall in stock markets and worsen the economic crisis. Many experts say the total shock of the pandemic is not yet felt due to the government`s emergency programs to prevent job losses that could soon end. Earlier this month, the European Commission forecast an 8.3% contraction in the EU economy this year. After a fourth night of talks, EU heads of state and government have agreed on a huge post-coronavirus recovery package.
The “Club Med” countries of Spain, Italy and Portugal seem to be satisfied with the lower level of subsidies available. Portuguese Prime Minister Antonio Costa told us: “It is true that it could have had a slightly larger dimension, but the recovery plan is robust enough to meet current estimates of the coronavirus crisis.” On 27 May 2020, in response to the unprecedented coronavirus crisis, the European Commission proposed the €750 billion Temporary NextGenerationEU Sanitation Instrument, as well as targeted reinforcements of the EU`s long-term budget for the period 2021-2027. . .