Nikos Chrysoloras ๐ŸŒด Profile picture
Moved to https://t.co/gqA7JNlcs5 | Comms for @EIB, previously a journalist at Bloomberg, but only personal views now archived here | Dormant handle.

Sep 30, 2020, 5 tweets

So ๐Ÿ‡ญ๐Ÿ‡บ, ๐Ÿ‡ต๐Ÿ‡ฑ, ๐Ÿ‡ธ๐Ÿ‡ช, ๐Ÿ‡ซ๐Ÿ‡ฎ, ๐Ÿ‡ฉ๐Ÿ‡ฐ, ๐Ÿ‡ณ๐Ÿ‡ฑ & ๐Ÿ‡ง๐Ÿ‡ช opposed ๐Ÿ‡ฉ๐Ÿ‡ชโ€™s compromise proposal on how to tie #NextGenerationEU & #MFF disbursements to the rule-of-law. ๐Ÿ‡ฆ๐Ÿ‡น & ๐Ÿ‡ฑ๐Ÿ‡บ abstained. The proposal still got the required qualified majority. But in theory, any of these countries could still block the package:

Allowing the European Commission to raise the agreed debt (750 billion) needs unanimity. So the rule of law legislation only needs qualified majority, and ๐Ÿ‡ญ๐Ÿ‡บโ€™s objections can be bypassed there, but if ๐Ÿ‡ญ๐Ÿ‡บ wants, it can block the โ€œown resourcesโ€ decision and blow the whole thing up

Plus we need to keep in mind that the EU Parliament also needs to give its backing to the package (by simple majority). Germany only got a mandate from Member states today to negotiate with the Parliament on the rule of law conditionality. Itโ€™s something, but not the end of it.

None of this makes sense of course, why would ๐Ÿ‡ญ๐Ÿ‡บ shoot its own foot, it needs the money as much as anyone, maybe more. And why would the EU Parliament risk being accused of blocking much-needed recovery package? But we report what they say, and they have threatened to block. ENDS

P.S: IMHO, itโ€™s more logical for ๐Ÿ‡ณ๐Ÿ‡ฑ or ๐Ÿ‡ซ๐Ÿ‡ฎ to block the package, citing the lack of a strong enough mechanism to ensure they wonโ€™t be bankrolling Orbanโ€™s cronies, rather than ๐Ÿ‡ญ๐Ÿ‡บ blocking a package of ๐Ÿ’ถ that itself badly needs. Anyways, in both cases the PR cost would be huge

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