Spain confident EU will find solution to Hungary, Poland opposition to recovery package

European Union flags flutter outside the European Commission headquarters in Brussels
FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels, Belgium August 21, 2020. REUTERS/Yves Herman

November 18, 2020

MADRID (Reuters) – Spain’s Economy Minister Nadia Calvino said on Wednesday she was confident the European Union would find a solution to overcome opposition from Hungary and Poland to the adoption of the 2021-2027 budget and recovery package.

The two Central European countries on Monday opposed the budget law because it included a clause which makes access to money conditional on respecting the rule of law.

Without unanimous consent on the 1.8 trillion euro package, that includes a 1.1 trillion euro budget for the EU and a 750 bilion euro recovery package, no EU country can get the money.

“I am confident that eventually, we will find a solution,” Calvino said in an interview with radio station Onda Cero.

The Spanish government has planned to borrow on the markets to cover for any delay in EU funds disbursements, she added.

“We have planned debt issuance next year to cover all the investment plans in the budget and we will adapt the calendar to the pace of the funds arrivals,” she said.

(Reporting by Inti Landauro; Editing by Andrew Heavens and Angus MacSwan)