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In the early hours of Tuesday, 21 July 2020, after over 90 hours of negotiations, EU leaders reached agreement at political level on a landmark package designed to facilitate economic recovery and renewal in the EU. The package, which is composed of a €750 billion recovery fund and a new long-term budget worth €1.0743 trillion, has been described as a deal of historic proportions and a shift towards the greater collectivisation of economic efforts in the EU. This briefing will examine the outcome of the special European Council of 17-21 July and its significance for the EU.

This briefing is available here.