The European Commission adopted on Wednesday 27 May a modest proposal for a Multiannual Financial Framework (MFF) for the EU for 2021-2027, although Next Generation EU, the new temporary instrument for recovery (see EUROPE B12494A2), has an ambitious budget of €750 billion.
The revised MFF amounts to €1,100 billion in 2018 prices, compared to €1,279 billion in the Commission’s May 2018 proposal.
In total, the MFF together with the specific instrument for recovery would amount...