• By The Financial District

EU MEMBERS, PARLIAMENT SEAL DEAL ON 270B EURO FARM BUDGET

Representatives of the 27 EU countries and the European Parliament have struck a deal on the bloc's 270-billion-euro ($323-billion) agriculture reform.

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The agreement comes after years of negotiations and several rounds of late-night talks in Brussels, Deutsche Presse-Agentur (dpa) reported late on June 25, 2021.


"The deal paves the way for a simpler, fairer and greener CAP [Common Agriculture Policy] that will provide a sustainable future for European farmers," the EU Council said in a press release.


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Negotiators have been at loggerheads about what proportion of payments to farmers should be spent on so-called eco-schemes - voluntary environment-friendly practices that farmers can get financial support for.


The new CAP budget covers the period 2023 to 2027.


The total budget - which includes an already agreed upon two-year transition period in 2021 and 2022 - comes at a price tag of 387 billion euros. The agreement still needs to be formally adopted by the parliament as a whole.


The Greens in the European Parliament have announced they will be voting against the deal, arguing that it does not go far enough in protecting the environment.



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Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.
Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.