EU chiefs urge MEPs to back recovery despite budget cuts

EU chief Charles Michel on Thursday urged the European Parliament to approve a massive recovery package hammered out at a hard-fought summit that he said was unrivalled in size and ambition.

Tied with the EU’s long-term budget, Michel said the total stimulus would reach 1.8 trillion euros and that this would go a long way to reversing Europe’s massive recession.

But Ursula von der Leyen, the president of the European Commission, admitted to MEPs meeting in Brussels that after the stimulus package the longer-term plan involves EU budget cuts that are hard to stomach. “The good news is that we have managed to plug almost all of that gap. That means that every country has to pay more,” she said.

The deal was sealed by EU leaders after intense negotiations that saw threats of walkouts, vetoes and fierce opposition from the Netherlands and Austria.

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