EU heads of state or government will discuss the EU’s long-term budget for 2021-2027 during a special meeting of the European Council on 20 February 2020.
In his invitation letter, the President of the European Council said:
"The time has come to reach an agreement at our level on the multiannual financial framework.
I am convinced that with common sense and determination we can strike a deal that will benefit all Europeans.
To achieve this, all sides will need to demonstrate a spirit of compromise."
Charles Michel, President of the European Council
Ahead of the summit, President Michel had individual talks with all 27 leaders of the member states on the EU's next long-term budget.
"This week was full of intense meetings on a #EUBudget that works for all 440 million Europeans", tweeted Charles Michel on Friday, 7 February.
On the basis of these consultations, President Michel presented a proposal on the overall size of the budget and how it is allocated.