“The European Council’s Financial Mega Deal: An unprecedented challenge for the political and academic world”, Wolfgang Wessels and Lea Hopp (CETEUS, Cologne)

In its July 2020 meeting, the European Council agreed on a financial mega deal, creating the Next Generation EU (NGEU) with the Recovery and Resilience Facility (RRF) at its heart and adopting the next Multiannual Financial Framework (MFF). Given the aims and amounts at stake, a main task for practitioners and academics is to study the RRF’s governance mechanisms and its impact on the institutional architecture of the European Union. The dynamics and constraints inbuild in the procedures are not only a question of academic curiosity but decisive for the success or failure of the whole RRF and thus the NGEU project.

Read the policy brief here.