Yesterday EU leaders celebrated the end of a historic Council meeting. After the second-longest negotiations ever in the history of the EU, Member States were able to find an agreement on both Next Generation EU, the new EU funding instrument to support the post COVID-19 recovery, and the Multiannual Financial Framework (MFF) 2021-27, the EU’s seven-year budget. 

But what does this agreement mean for young people? And should we really be celebrating?

The negotiations this weekend were tough. Back in 2018 when the process started, no one could have predicted that we would find ourselves in the midst of a global pandemic leading us into an economic recession. The strong recovery package is therefore welcome, representing a crucial sign of commitment and solidarity in Europe. 

Beyond the recovery, however, EU leaders have failed to show enough ambition. Rather than investing in the future of Europe, in young generations, in sustainability and innovation, these areas are now facing severe cuts.  At a time when young people are already bearing the burden of yet another crisis, this budget agreement comes as a disappointment. Most of the sectoral programmes with a direct focus on youth or with the potential to support the transition towards a fairer, more socially and environmentally sustainable Europe, will now not be able to meet their ambitious targets. 

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