18:00 GMT03 August 2020
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    BRUSSELS (Sputnik) - The European Parliament on Thursday voted to adopt the mammoth budget and recovery deals reached by EU leaders earlier this week.

    "The results of the second voting session are the following: motion for a resolution from five political groups on conclusions of the extraordinary summit meeting of the European Council, 682 votes in favor, 465 votes against, 150 abstentions", the Parliament's President David Sassoli announced.

    The vote approved the general results of the negotiations and the framework of the decisions adopted by the summit. They are expected to make decisions in detail on the developed multi-year budget plan no earlier than September.

    Earlier, Sassoli said that the EU parliamentarians approve of the recovery plan, but consider it necessary to amend the multi-year financial plan. In particular, Sassoli expressed concern over the reduction of funding for research programs and migration support. Sassoli also stressed that the recovery package needs further discussion between the EU Parliament, Commission, Council, and including Germany as a current chair in the rotating presidency.

    During debates, some parliamentarians criticized the financial plan, insisting that it involves many sacrifices for European states and will lay a heavy burden on future generations.

    EU leaders reached an agreement on a long-term budget and a recovery package on Tuesday after five days of intense negotiations in Brussels.

    The 27 nations agreed on free subsidies to the worst-hit countries, which will amount to 390 billion euros instead of the previously proposed 500 billion euros. The fund will also include 360 billion euros in loans, instead of 250 billion euros, that will have to be repaid by the states. Meanwhile, the EU budget for the next seven years was set at 1.07 trillion euros.

    budget, European Parliament, Europe
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