The leaders weary of the ECU Union, however, approached an unprecedented budget of 1.82 billion euros ($2.1 trillion) and a coronavirus recovery fund on Tuesday morning, placing the unit after 4 days and so many nights of fighting and fighting for cash and force at one of its longest peaks already.
To cope with the biggest recession in its history, officials said the EU had both a consensus and a 750 billion euro fund opposed to coronaviruses that would be sent in the form of loans and subsidies to countries affected by the virus. This is in addition to the EU’s seven-year budget of 1 trillion euros. Initially, the subsidies were expected to total 500 billion euros, but the figure was reduced to 390 billion euros.
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“There have been tense moments,” French President Emmanuel Macron said, “but as for the content, things have moved on.”
An EU official close to the talks said “we are the way we are there.”
A diplomat from an EU primary country said the main problems had been resolved, however, some member states were final concessions in the seven-year budget. A diplomat from another country agreed, but said such questions can still take a few hours. All officials spoke on anonymity because the talks were still ongoing.
“An ordinary scenario requires ordinary efforts,” German Chancellor Angela Merkel said, as leaders continued one of the longest peaks in the block’s history. differences between the 27 leaders.
Overall, morale had been at the top on Tuesday since conversations hit the rock on Sunday night.
Dutch Prime Minister Mark Rutte protecting an organization from five north-rich countries: the Netherlands, Austria, Finland, Sweden and Denmark, about to cut prices and enforce strict promises of reform on any bailout for countries in need. The marathon talks that began on Friday morning.
The coronavirus sent the EU to a loose fall, killing some 135,000 of its citizens and sinking its economy into an estimated 8.3% contraction this year. The president of the Spanish government, Pedro Sánchez, insisted that the adoption of an ambitious plan is mandatory as the fitness crisis continues to threaten the continent.
The block executive has proposed a 750 billion euro coronavirus fund, partly on non-unusual loans, which will be sent in the form of loans and grants to countries affected by the virus. This is in addition to the EU’s seven-year budget of 1 trillion euros that leaders had negotiated for months even before the pandemic.
Macron and Merkel negotiating as closer partners, the historically tough Franco-German alliance has not been to put nations into an online dispute for a long time.
The leaders reflected on a proposal from the five northern countries to recommend a coronavirus recovery fund with 350 billion euros in grants and the same amount in loans. The five EU countries, dubbed “the frugales”, had long opposed any subsidy, while the EU executive had proposed EUR 500 billion.
The commitment proposal amounts to EUR 390 billion in subsidies.
All nations agree to regroup, however, the five richest countries in the north need strict spending controls, while troubled southern countries such as Spain and Italy say these situations should be kept to a minimum. The five pushed for the labour market and pension reforms to connect to EU aid and a ‘brake’ that would allow EU countries to monitor and, if necessary, prevent projects financed through the stimulus fund.
Rutte and others also sought a link between the distribution of the EU budget and the rule of law, a link with Poland and Hungary, countries with right-wing populist governments that, in the opinion of many EU members, are moving away from democratic rule. .
The diplomat from the main EU country said this had also been resolved, but that no important points were available.
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