Poland and Hungary standoff is over with $2.2-trillion EU stimulus approved
The German-brokered compromise on the budget offers reassurances, but the rule-of-law provision will remain in place
Brussels/Bucharest — EU leaders meeting in Brussels have resolved a standoff with two eastern member states that threatened to delay a historic $2.2-trillion budget and stimulus package just as the latest wave of coronavirus infections ravages the continent’s economies.
A deal was agreed on Thursday with Hungary and Poland, which had angrily protested a mechanism tying funding to upholding democratic norms. The agreement paves the way for the EU to put into effect not just its seven-year budget but a €750bn pandemic relief package that will be financed by joint debt...