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The plenary debate on EU’s own resources decision has ended

Published 5/15/2021 4:20 AM
Plenary Hall seen from above

The plenary debate on EU’s own resources decision has ended

(Latest update: Saturday, 15 May 2021 at 4:20 a.m.)

The plenary debate on EU's own resources decision ended early Saturday morning at 4.00 a.m. The parliament will now vote on whether to approve the decision.​ The date of the vote is not yet known. The next plenary session will be held on Tuesday, 18 May at 2 p.m.

The matter will pass a single reading on the basis of the Finance Committee's report.

The Finance Committee proposes that Parliament approves the Council decision of 2020 on the European Union's own resources system. To be adopted, the decision must be ratified by all Member States. In Finland, the decision will be made in a plenary session of Parliament.

The Finance Committee supports the decision on the own resources package, which authorizes the European Commission to borrow EUR 750 billion to finance the recovery instrument. According to the Committee's assessment, it is not in Finland's interest to opt out of the recovery package, as the absence of any country could lead to the project failing.

Press release 5 May 2021: Finance Committee: Joining the EU recovery package is in Finland's interest

The Constitutional Law Committee had previously assessed that this arrangement is effectively equivalent to a significant transfer of competences to the European Union. 

To be adopted, the proposal must be supported by at least two-thirds of the votes cast in a plenary session. Votes cast do not include blank or rejected votes.​