11 Dec 2020 / 05:23 H. EU leaders reach deal on access to funds with Poland, Hungary Warsaw, Budapest drop their veto to 1.8 trillion euro package Deal paves way for agreement on more ambitious climate goals (Adds Morawiecki, Orban, Commission comments)
By Jan Strupczewski and Kate Abnett
BRUSSELS, Dec 10 (Reuters) - European Union leaders unblocked on Thursday a 1.8 trillion euro financial package to help the economy recover from the pandemic-induced recession after reaching a compromise with Poland and Hungary, the chairman of EU leaders Charles Michel said.
The deal on the 1.1 trillion euro Multiannual Financial Framework (MFF) and a historic recovery fund also paves the way for the 27-nation bloc to agree on more ambitious cuts in greenhouse gas emissions - by 55% by 2030 against 1990 levels, rather than by 40% as now.